The Scottish Government has announced a fund of up to £5m to support the city’s ongoing response and recovery to the Princes Street fire, following talks with the Council Leader this morning.
Council Leader Jane Meagher said:
This is a significant step in our city’s recovery from the Princes Street fire, and I wholeheartedly welcome the Scottish Government’s announcement today.
Whilst I remain acutely aware of the impact that this is having across the city every day, I hope that this news can bring some comfort to our residents, businesses and visitors. The city is very much open, and I’d encourage everyone to support our fantastic local businesses as the festivals begin later this week.
We’re continuing to do everything within our power to reopen Princes Street as soon as it’s safe to do so. The complexity of the remedial work cannot be understated, with specialists working, mostly by hand, under extremely challenging circumstances.
I’d also urge people to continue to plan ahead and allow extra time for their journeys.
I was encouraged by my conversations with the Deputy First Minister today and we’ll continue to work alongside the Scottish Government and our partners in our collective response to this incredibly difficult issue.
The fund will be administered by the Council and divided into the following sections. Full details of how to apply will be released in the coming days.
For the latest advice and updates on Princes Street please visit the Council's dedicated webpage.
Building Works:
The Council is incurring substantial daily costs to progress work on the site, including making the building safe and the retention of heritage features, alongside associated security costs. This support will go towards covering these in the short to medium term.
Ultimately, the Council will still attempt to recover appropriate costs from the owners under the Building (Scotland) Act 2003.
Business Recovery:
The Council recognises the impact that this has had on businesses across Edinburgh, particularly in Leith and the north of the city due to tram disruption.
This funding will be used to encourage people to visit local businesses through a communications campaign, creating a local events fund and further incentivising patronage.
Festivals Support:
The fire has resulted in some events by festival partners in the immediate vicinity being relocated at short notice. Bookings have also been impacted.
Requests for funding will be considered on a case-by-case basis.
Public Transport Support:
Edinburgh Trams has experienced increased costs and a loss of income due to disruption on the network.
As a large section of the tram network has been offline since the fire, this fund would be used specifically to help mitigate this ongoing impact on both Edinburgh Trams and the Council.
Princes Street City Dressing:
Funding will support the installation of dressing at any vacant units or construction sites, including the former Debenham’s building, while works are ongoing, to maintain a positive image for Princes Street.
‘Getting Around Town’ Communications Campaign:
Work has already commenced on a campaign to help residents and visitors get around the city.
This budget will allow additional digital and physical assets to support this.