Councillors today (January 29) made significant progress towards a £41.1m capital investment package, over the next three years, for the City Operations and Infrastructure (COI) fund.
These proposals are subject to final full Council approval, which will be debated on February 12.
The report outlines how part of the revenue from the Edinburgh Visitor Levy will be spent under COI across a wide range of projects and workstreams.
These include supporting capital borrowing for the George Street and First New Town project, developing a masterplan for Portobello Promenade, upgrading and replacing bins, accelerating our setted streets programme, alongside improving existing and providing new, more accessible public toilets.
The full list of recommended projects can be found on our website.
Reports on the remaining Visitor Levy revenue spending will now be debated at executive committees throughout February:
• All Programmes: Finance and Resources Committee
• Destination and Visitor Management: Housing, Homelessness and Fair Work Committee
• Culture, Heritage and Events and specific elements of City Operations and Infrastructure: Culture & Communities Committee.
Commenting on today’s decision, Transport and Environment Convener, Councillor Stephen Jenkinson said:
The Visitor Levy is a transformational development for the Capital, with today marking an important milestone in the process. Edinburgh is already one of the world’s premier visitor destinations, but this comes with a responsibility to properly manage the impacts tourism has on our residents whilst improving visitor experience.
From short term measures such as increasing the amount of waste and cleansing patrols, alongside long-term strategic projects such as George Street and First New Town, the opportunities which the Visitor Levy could provide for our city cannot be understated.
We’ve long debated the many things that we’d like to do as a city. We now have the chance to make these a reality, which is something that we should seize with both hands.
Further Information on Visitor Levy:
After administration costs, which includes establishing and maintaining a contingency fund, a fixed amount has been assigned to:
- Housing and Tourism Mitigation (£5m per annum)
- Participatory Budgeting (£2m over three years); and
- Reimbursement of 2% of remitted funds to Accommodation Providers, to offset the administrative cost incurred from operating in accordance with the Scheme and collecting visitor data.
The remaining funds are then split into the following investment streams:
- City Operations and Infrastructure (55%)
- Culture, Heritage, and Events (35%)
- Destination and Visitor Management (10%).