The North-East Hamilton Economic Empowerment Zone (EEZ) will provide traders dealing in illicit activities with the chance to redeem themselves and make money legally.

That is according to Finance Minister Paula Cox, who was speaking at a meeting about the North-East Hamilton Land Use Plan and the Establishment of the EEZ Agency held at the Bermuda Small Business Development Corporation (BSBDC) headquarters yesterday.

Ms Cox gave an update on the development of the plan and announced the setting up of the agency, as well as talking about when Bermudians can expect to see a change to the area and Government's plans to tackle the issue of illegal trading around Court Street.

She said that despite a drop off in tourist numbers and North-East Hamilton being considered a "no-go zone", she expected to see a revitalisation and renaissance of the area which would attract visitors back.

"We have increased the presence in terms of police and that is helping to change the perception (of the area), but we still have some way to go," she said.

"There are legitimate opportunities (for illegal traders) for changing and participating in wealth generation rather than by illicit means.

"It is all about providing a greater opportunity for people so they see that there are options that pay rather than options that put you at odds with the law and order.

"We need to work together to regenerate the area and deal with law and order at the same time."

Ms Cox started the conference by speaking about the work the Ministry of Finance, the BSBDC and key stakeholders in the EEZ has done to help entrepreneurs put their business into reality.

She went on to highlight the partnership between Government and the BSBDC to set up the North-East Hamilton EEZ in November 2005, saying the area had not always reaped the economic rewards that other more recognised places in Hamilton had achieved in the past and that Government had stepped in, in a bid to jump-start much-needed attention and capital to the zone.

"For the past two-and-a-half years we have been working in a multi-pronged and multi-phased approach to address socio-economic issues in the zone, basing our actions and decisions on research, as well as community input and feedback," said Ms Cox.

Ms Cox said that extensive public consultation in North Hamilton had resulted in recommendation proposals to further improve the EEZ had been approved by Cabinet, with legislation for the EEZ Local Plan, complete with land use policies and design regulations for each district, and the formation of an EEZ Agency set to be introduced in the forthcoming months.

The plan, which controls the types and designs of development, still needs the approval of the Environment & Sport Minister ElvinJames before it is tabled in the House of Assembly to be given the go-ahead by the Legislature, with regulations for the plan being anticipated to be drafted within three months.

If all goes according to plan, it would be put out for at least two months of public consultation and then be brought to the House for final approval before the end of the year.

"The plan outlines a number of fresh and innovative initiatives which will transform the EEZ into an aesthetically pleasing environment, while taking into account the need to balance the area's cultural, historical and architectural attributes," said Ms Cox.

"Such a transformation includes revitalising the current design and infrastructure, adding more street lights, expanding the pedestrian aspects of the area, the introduction of more public art in the area, and the creation of public and private open spaces."The innovative and creative solution is to capitalise upon the existing micro-neighbourhood structure of NorthEast Hamilton and create 13 distinct districts.

"Attracting more Bermudians and tourists alike to the area, improving and increasing housing stock, providing community facilities, protecting areas of cultural value, consolidating neighbourhoods, increasing commercial opportunities, upgrading visual and social experiences, restoring control to the neighbourhood and inspiring investor confidence are projected to be some of the beneficial outcomes."

She said there were also plans afoot to change the BSBDC Act to expand and alter its name and remit to the Bermuda Economic Development Corporation (BEDC), including a range of new powers to run the EEZs, while an EEZ Agency would formally govern the EEZs and report to the BEDC.

Ms Cox said the time had come to create the new agency to speed up the implementation of the Economic and Land Use Policies and allow for both public and private sector investment.

BSBDC general manager Michelle Khaldun then outlined four key projects which the Corporation was working on, creating gateways leading into the EEZ, including from Front Street into Court Street, Victoria Street into Dundonald Street, Court Street into Angle Street and from the north of the city.