Landowners and farmers in the Alde and Ore estuary have raised a £3 million fund through the East Suffolk Internal Drainage Board towards upgrading work on the Alde and Ore Estuary plan.
This is in addition to over £1 million in pledges and cash so far given to the Alde and Ore Estuary Trust by landowners and farmers, making a total of £4 million towards the project.
Commenting the latest news, Sir Edward Greenwell, Chairman of the AOEP, said: “Landowners have made a substantial contribution to support the fund-raising efforts for this important project. Our aims are to improve flood protection for all the local residents, businesses and the environment – not just farming – so we have greater certainty about flood risk over the next few decades. For the next 28 years, landowners will be paying £115,000 per year, a clear long term commitment to the importance of this project.”
Money already raised by landowners will be spent on the flood defense works across the whole estuary. These funds will also act as match-funding, enabling the IDB to apply for central government funds and support the Estuary Trust in accessing funding from a wider range of sources.
Landowners and farmers, in discussion with The Alde and Ore Estuary Partnership and Trust, have also decided to take enabling development off the table as a mechanism for fund-raising for flood defenses in the estuary.
The Partnership will host a public drop-in session about the project on Wednesday, 27th February, 2pm-8pm, at Snape Maltings Trask Café.