Aberdeen City Garden Project: 'Clear case' for regeneration

A business case for Aberdeen's City Garden Project has been published, claiming more than 8,000 jobs could be created.

The business plan argues there is a "clear case" for the regeneration of Aberdeen city centre.

Tax Incremental Financing (TIF) would see the £92m loan being paid back by increased income from business rates.

A full meeting of Aberdeen City Council will discuss the Union Terrace Gardens proposals on 22 August.

The council report concludes: "Overall this Business Case demonstrates a clear case for the regeneration of Aberdeen city centre, using five inter-related TIF scheme projects as a catalyst for future global investment in the city."

It highlights "the potential to unlock significant private sector investment and generate up to 8,121 jobs and an average of £142m per annum of economic growth over 25 years".

Businessman Sir Ian Wood has pledged £50m of his own money to the project, which he believes the city must grasp.

In a referendum earlier this year, residents were asked if they wanted to retain the gardens or back the City Garden Project redevelopment.

More than 86,000 votes were cast online, by post and by phone.

There were 45,301 votes in favour of the project, with 41,175 people opposed to the plans.

If it goes ahead, the project could be finished by 2017.