CRAVEN District Council is inviting tenders from the private sector to work on regeneration projects worth up to £30 million.

The joint venture could deliver valuable regeneration schemes for the community while also generating an investment return for the council.

A number of potential regeneration areas have been identified which will be subject to further detailed appraisal once a joint venture partner has been selected.

Ian Halton, the council's assets and commercial services manager said the council had ambitious plans to regenerate areas of Craven.

“A strategic developer partnership arrangement could help us secure long lasting and sustainable regeneration in the district," he said.

“A number of East Lancashire authorities have worked successfully with private developers on regeneration projects in their area and we believe this success can be repeated in Craven.”

The procurement process was approved by full council on August 2, along with a supplementary revenue estimate of up to £25,000 to meet external procurement and legal support and set up costs.

A further report will be submitted to a future meeting of the council's policy committee to inform councillors of the outcome of the first stage of the process, when members will be asked to approve a selected partner.