Background to ri
ri is an Urban Regeneration Company limited by guarantee, with charitable status and two member organisations : Inverclyde Council and Scottish Enterprise. A property holding subsidiary was created – ri (Property Holdings) Ltd – to develop and implement commercial property projects within the operating area of ri as defined in its Memorandum and Articles of Association. ri (Property Holdings) Ltd is limited by shares with the level of both authorised and issued share capital set at £100. In 2008/09, a Limited Liability Partnership – James Watt Dock LLP - was entered into with Peel Holdings Ltd to oversee the redevelopment of James Watt Dock. In the same year ri become a major partner in Sail Inverclyde, the charity that delivered the 2011 Tall Ships’ Races to Greenock.
As a public/private partnership ri has been designed to secure the long-term economic growth of Inverclyde. It has a twin-track approach of “going for growth” through the exploitation of existing and new opportunities and “spreading the benefits of growth” to the local resident and business communities.
Specifically ri is focused on addressing a single strategic objective: “to advance economic growth through the exploitation of opportunity for the benefit of the business and residential community of Inverclyde”.
In this context, ri’s area of operation is defined as “areas of economic and social deprivation in Inverclyde”. The primary focus of its physical interventions is the waterfront areas of Greenock and Port Glasgow but its sphere of influence extends to the whole of Inverclyde, spreading the economic benefit of change and working with local and national partners to deliver emerging projects.
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