Regional development agency One NorthEast has committed itself to spending up to £63,000 leading a delegation of property professionals for a four-day conference on the French Riviera.
The agency will "underwrite" the costs of leading a delegation of 12 regional property firms and local authorities to the MIPIM conference in Cannes next month, but could not say this week how much of the money would be recovered from delegates.
A spokesman for the agency, which owns a £70m property portfolio in its own right as well as a share in the Buildings for Business joint venture with UK Land Estates, said: "[The delegates] will contribute a share to the costs afterwards. Those costs will be invoiced afterwards.
"In terms of specifics I am not able to say what actually will be spent [by ONE]. We will make the biggest contribution though."
The conference, which has become a byword for excessive spending of taxpayers' money after John Prescott booked a £5,000-a-night hotel suite last year, is one of the largest events on the European property calendar, attracting 2,000 exhibitors from 74 countries.
One NorthEast director of regeneration and tourism John Holmes said the delegation's presence was essential for promoting property in the region.
He said: "MIPIM is the key annual event for this industry and so it is important that North-East property firms have a strong presence.
"This is why we are leading a North-East England delegation to this year's event where, for the first time, we will be launching a comprehensive catalogue of the major investment sites in the region."
He added: "By bringing public and private sector partners together to promote the North-East we're able to punch above our weight as a region while at the same time reducing the costs to all partners."
The North-East delegation includes Newcastle City Council, property agents King Sturge, Turner and Townsend, storeys:ssp, urban regeneration companies Sunderland arc and Tees Valley Regeneration, Newcastle architects Carey Jones, Ryder HKS, law firm Watson Burton and property companies Rokeby, Summers Inman and Highbridge.
Mr Holmes, along with Ed Rowley, head of regeneration, and Neil Graham, regeneration manager North, will attend from One NorthEast. The £63,000 will cover air fares, the cost of preparing a regional brochure, registration fees and the cost of an apartment for five days, including catering.
Members of the delegation rallied behind One NorthEast yesterday. John Duns, marketing manager at Watson Burton, said: "We see the event as a significant opportunity for the business development of our property and construction practice and we are optimistic of bringing new work to the North."
Jonathan Sykes, head of national property agent King Sturge in Newcastle, said: "King Sturge are heavily committed to MIPIM and are pleased to be supporting One NorthEast in this instance.
"This is a fantastic opportunity for the region to sell itself internationally."
Twenty-one thousand property professionals attended the event on the Cote d'Azur last year. Most of the UK's biggest property agents send staff to the event en masse.
Deputy Prime Minister John Prescott and London mayor Ken Livingston have got into hot water in recent years after running up excessive expenses at MIPIM.