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Leeds regeneration plan struggles but chiefs get big payouts
Residents in a Leeds regeneration project area have reacted furiously to huge bonuses awarded to bosses of the struggling £1.2bn scheme.
The East and South East Leeds (Easel) regeneration project was launched in 2005 to revitalise some of the city's poorest communities with 5,000 new homes and 2,000 jobs in Seacroft, Gipton and Harehills.
Last month the YEP revealed that the scheme had fallen under threat from the credit crisis.
Senior Leeds City Council officers and executives from Bellway, the housebuilder which won the contract, held crisis talks to try and ensure the project's future.
Since then, Bellway has announced that it has agreed to pay a bonus of 275,000 to chief executive John Watson and 178,500 each to commercial director Peter Stoker and finance director Alistair Leitch.
The bonuses took Mr Watson's total pay package for last year to 824,917, while Mr Stoker and Mr Leitch picked up just over 544,000 each.
Martin Bowers, chairman of residents' group Gipton ALO, said: "That is ridiculous money. It is a slap in the face for Gipton people. The only chance someone here has of seeing that sort of money in their lifetime is if they win the Lottery."
Mr Bowers said residents felt they had been excluded from the Easel scheme. He added: "A few houses have gone on sale but no one here could afford them. What people want is good social housing, but we are not seeing any of that built."
Kim Harrison, a Gipton Together committee member, said: "Some houses have been demolished, others are still standing and people are in limbo. These directors seem to be earning a lot of money for doing very little in this area. There were lots or promises, but work is going at a snail's pace."
Keith Wakefield, leader of the council's opposition Labour group, said: "These figures are staggering. I am all for people getting a bit extra when they are performing but Bellway has not been performing. Easel area residents, many of whom are living on low incomes, will be insulted by this."
The YEP understands that talks are ongoing between the council and Bellway about how to keep Easel on track.
Housing boss Les Carter has said that new plans are to be lodged this month aimed at keeping workers on the two current Easel sites, Oak Tree Drive in Gipton and South Parkway in Seacroft.
A Bellway spokesman said the company was due to hold its AGM on Friday and would not make any comment about directors' pay and bonuses before then.
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Friday 25 May 2012
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