Regeneration of Olympics handed to new body
Boris Johnson has announced the creation of a mayoral development corporation that will be responsible for the regeneration legacy of the 2012 Olympics in London.
The new body, which will be called the London Legacy Development Corporation, will open for business on 1 April and will continue the work of the Olympic Park Legacy Company as well as manage some of the assets and responsibilities of existing regeneration agencies in the area, such as the Thames Gateway Development Corporation.
The mayor also said he will appoint current OPLC chair Baroness Margaret Ford as the corporation’s interim chair until she steps down after the games. She will ensure that there is a smooth transition from the Legacy Company to the Legacy Corporation and will secure tenants for the remaining venues.
The new corporation will have greater powers over the Queen Elizabeth Olympic Park and wider area including planning and development control.
Mr Johnson said: ‘We have an extraordinarily exciting period ahead. Building on the momentum already created by the Legacy Company we are on track to grasp this unique opportunity and harness the Olympic legacy of new jobs, new homes and new communities which Londoners will benefit from for years to come.’