Publicly funded regeneration projects have been a great success in the capital but there is still room for improvement, according to a Greater London Assembly report.
Rebuilding London’s Future, produced by the Assembly’s economic development committee, states: “Publicly funded interventions have made a clear improvement to the physical appearance of an area, to its accessibility and to its feel.”
But the report, compiled during a year-long investigation, claims that a single national agency iss needed with overall responsibility for regeneration to co-ordinate the initiatives of government departments.
Mayor of London Ken Livingstone said: “To succeed in these aims it is vital that regeneration funds are successfully targeted. My London Development Agency will continue to ensure that regeneration funds create real opportunities and are directed to those in greatest need.”
The report said that the London Development Agency, which was established in July 2000, should be a kind of “one-stop shop” for London regeneration. The LDA will allocate over £300m to 46 schemes over the next six years.
The report added that “preventative regeneration” schemes should be considered for Outer London “before we lose suburban high streets and businesses for good”.
Eric Ollerenshaw, chair of the economic development committee, said that the report “sets out just how successful regeneration schemes from successive governments and agencies have been in stimulating growth and community spirit within the capital”.
He added: “We must not become complacent. Regeneration does work, but we need to make it work better.”
EGi News 19/03/02
