The work of the LLDC, one year on
One year on from the 2012 Games, our Regeneration Committee report warned that the London Legacy Development Corporation (LLDC) will need additional support to achieve its regeneration legacy objectives.
The Committee has expressed its concerns that a funding gap of around £9 million in 2015-16 could cut into the regeneration activities planned for the Queen Elizabeth Olympic Park.
For the LLDC to deliver its planned regeneration activities, the Committee has recommended that the Mayor confirms that the LLDC will receive additional funding between 2015 and 2017.
The report also recommended that the LLDC should,
set out in its ten-year plan how the Corporation intends to become self-sustaining in the longer term, by 2020 at the latest
work towards its 35 per cent affordable housing targets for the Eastwick and Sweetwater neighbourhoods, and
secure agreement with TfL over new links that will be built across the A12 between the Park and surrounding areas within 12 months.
In its report findings the Committee noted the progress the LLDC has made 12 months since the Olympic Games.
The LLDC has,
secured a deal with iCity to operate the Press and Broadcast Centres, with approximately 40 per cent of the available space let to BT Sport, Loughborough University, Hackney University Technical College and Infinity SDC
exceeded its employment targets in construction jobs and established 59 apprenticeships across construction and non-construction jobs, and
opened the first areas of the Park earlier than planned and is on target to deliver its visitor numbers forecast outlined it its business plan.