The Government has earmarked half a billion pounds for a major post-Games transformation of the London 2012 Olympic Park, it has been revealed.
Thames Gateway minister Bob Neill told Regeneration & Renewal that last month’s spending review settlement included 500 million of funding to turn the area into a new district of London.
Neill also announced the formation of a new Thames Gateway Strategic Group, which will aim to simplify the ‘plethora of bodies we have had up to now’.
The new group will mainly be made up of local authorities, plus the London mayor’s team and new council and business-led local enterprise partnerships, Mr Neill said. ‘The minister will not automatically chair it,’ he added.
The minister also said the mayoral development corporation charged with overseeing the legacy development of London’s Olympic Park would be ‘likely’ to be brought forward in the Localism Bill, which is expected to be published next month.
Neill said the mayoral development corporation could act as a model for other cities to emulate, ‘if they choose to have a mayor’. ‘It’s one of a range of tools that a mayor could employ,’ said Neill.