Assembly supports future regeneration funding for London high streets

The London Assembly Regeneration Committee has expressed its cross-party support for the continuation of the Mayor’s Outer London Fund (OLF).

The Committee examined the OLF and its effectiveness in regenerating London’s high streets, which included a visit to Deptford in November 2013 and a committee meeting on 16 December 2013.

Gareth Bacon, Chair of the Regeneration Committee has written to the Mayor expressing the Committee’s support for future funding of the OLF.

The response outlined the following recommendations.

The GLA should consult boroughs about its approach to further funding for the OLF

Sufficient revenue funding is required to ensure boroughs can maximise the benefits of the OLF

Future rounds of the OLF should focus on projects where the Fund can act as a catalyst for further investment

The GLA should tell the OLF story more effectively so that Londoners are more aware of the Mayor’s work to support high streets