Prime Minister’s Office director general Raanan Dinur yesterday promised that the government would invest NIS 50 million in creating the Ayalon Park in Tel Aviv. Following the announcement, the Bracha Foundation announced that it would make a matching investment in the park.
Several months ago, the Bracha Foundation announced that if the government would not undertake to finance part of the establishment of the 8,000-dunam (2,000 acre) park, it would withdraw its promise to contribute a matching sum.
The government’s contribution will be broken down as follows: NIS 25 million from the Ministry of the Environment’s budget; NIS 12.5 million from the Prime Minister’s Office; and the rest from the Ministries of Finance and the Interior.
At the same time as the funding announcement, the Registrar of Companies confirmed the establishment of a government company that will design, develop, manage and maintain the Ayalon Park and rehabilitate the former Hirya garbage dump located in its area. The new company’s board will comprise representatives of the Ministries of Finance, Interior and Tourism, local authorities from adjacent jurisdictions, the Israel Land Administration (ILA) and Life & Environment - The Israeli Union of Environmental NGOs.
Minister of the Environment Gideon Ezra said the establishment of the government company would ensure that the Ayalon Park would remain an open public space, serving as green lungs for metropolitan Tel Aviv.
Dan Region Association of Cities chairman Doron Sapir said the commitment by the government and the Bracha Foundation would ensure the creation of the Ayalon Park.
The establishment of the Ayalon Park under the framework of the Regional Outline Plan came after a protracted public struggle. The plan for the park as envisioned by the Tel Aviv Regional Planning and Building Commission, was opposed by Shrem Fudim Kelner & Co. (TASE: SFK) subsidiary Hazera Genetics Ltd. (TASE: HQS) and the Mikve-Israel Agricultural School, owned by Alliance All Israel Friends High School, both of which leased land in the area of the proposed park, and wanted to develop it.
Published by Globes [online], Israel business news - www.globes.co.il - on June 12, 2006
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