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12:29 pm, October 27, 2008
MIDAS pleased with TIF changes

By Simon Binns

MIDAS, Manchester’s Investment and Development Agency, has welcomed the proposed changes to the Transport Innovation Fund (TIF) package.

Among modifications made to the TIF proposals include a full congestion charge exemption for Trafford Park until public transport links are completed, and a £5 cap on multiple crossing of charging rings.

MIDAS claimed the TIF package had received a “largely positive” feedback from foreign investors.

More than 30 foreign-owned companies attended a series of TIF roundtable briefing events, organised by MIDAS for key investors in the city region, at Manchester United’s Old Trafford stadium. Issues and concerns from the events were fed through to the GMPTA as part of the consultation process, and MIDAS chief executive Colin Sinclair said he was satisfied the views of their members had been listened to.

“We felt that it was vital that international organisations who have invested in our city region had the opportunity to fully understand the TIF proposals and have their say on the package,” he said.

“Many of these businesses are based in Trafford Park and raised concerns over when their Metrolink line would be delivered, so to see they are set for a full exemption until the tram is delivered is very pleasing.

“It is also clear that concerns raised at our meetings about repeat charging for business vehicles that need to make several journeys at peak times each day have been listened to.

“Our events have been very well received by a representative group of the 500 foreign owned companies we account manage across Greater Manchester. Our investors will be delighted that their comments have been taken on board.”

comments?sbinns@crain.com

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