The Secretary of State may, with the consent of the Treasury, give financial assistance to any person in respect of expenditure incurred in connection with activities contributing to the regeneration of an urban area.
Activities contributing to the regeneration of an urban area include in particular—
securing that land and buildings are brought into effective use;
developing, or encouraging the development of, existing and new industry and commerce;
creating an attractive and safe environment;
providing housing or social and recreational facilities so as to encourage people to live or work in the area;
providing employment for people who live in the area;
providing training, educational facilities or health services for people who live in the area.