MORE than £49million of regeneration cash is to be spent over the next year transforming rundown communities.

Elevate has announced the investment in East Lancashire under its housing market renewal programme.

Bosses said the cash would "revitalise inner urban areas which suffer from low demand and lack of housing choice". But they warned that the government must keep the funding at this level for up to 15 years to make a real difference.

It comes after £46million was spent under Elevate the last year.

Max Steinberg, Elevate chief executive, said: "We are delighted to confirm the level of funding.

"We have come a long way in the last three years but securing major lasting change in challenging urban environments takes between 10 and 15 years."

Some £12.38million will be spent on Blackburn with Darwen, £13.77million in Burnley, £7.49million in Hyndburn, £9.91million in Pendle, £2.2million in Rossendale and £3.06million on other schemes.