She was speaking after meeting with the British Secretary of State Karen Bradley in Derry on Monday.
The Foyle MLA: “The British Secretary of State said that part of the reason she was in Derry today was to hear directly from communities affected by the recent trouble and to explore what can be done to prevent any repeat.
“I am prepared to take her at face value on that and if she is serious about that ambition then her government should step up to the plate and contribute towards the regeneration of the site.
“Communities such as the Bogside have suffered decades of neglect at the hands of successive British Governments while the current administration has imposed savage cuts on our public services.
“I told Karen Bradley that if she genuinely wants to make an impact on the difficulties faced by residents in and around Meenan Square, then she needs to be prepared to contribute in a meaningful way.
“There are already plans in place to regenerate Meenan Square through the Urban Villages programme and the Council is taking forward measures to clear the site at present.
“However, given the legacy of under-investment in this area, the British Government can and should make a significant contribution towards the regeneration of one of the most disadvantaged areas in the North.”