Invest to earn aims to help grow city – Mayor speaks

Cityscape - two cathedrals

Liverpool City Council is proposing a new deal which could bring the HMRC building on Queens Dock back into use – and provide the catalyst to bring in vital funds for the city.

The Council announced yesterday it is in talks with a private developer over the city providing loan finance to to convert the building – which has been empty since last year – into residential properties for private let.

It forms part of the council’s new approach to investment in difficult economic times, helping generate vital funds which can be ploughed back into delivering vital services.

The Mayor of Liverpool Joe Anderson today welcomed the decision of the Finance and Resources Select Committee to endorse the Cabinet’s proposals for the HMRC building, as well as the cross-party Committee’s scrutiny of the plans and its unanimous decision to proceed.

The Council now will be taking independent legal and financial proposals to make sure the plans stack up and represent value for money for taxpayers. The Council will also seek the approval of the District Auditor, the Council’s own watchdog, before pressing ahead.

In this video, the Mayor explains more about the proposed deal for the HMRC building, and the next steps, as well as his wider vision of using an ‘invest to earn’ approach to help grow the city.