Land Acquisition

Meeting: 
Plenary on 2005-12-07
Session date: 
December 7, 2005
Reference: 
2005/0572
Question By: 
Bob Blackman
Organisation: 
GLA Conservatives
Asked Of: 
LDA

Question

If a multitude of businesses are pushed into liquidation as a result of the CPO of the Lower Lea Valley land, will this have a major affect on the LDA's budgeting of Olympic land acquisition?

Answer

Answer for Land Acquisition

Answer for Land Acquisition

Answered By: 
LDA

The London Development Agency does not envisage large numbers of businesses being extinguished. It is also not the case that extinguishment will simply cost more than relocation.

The LDA has established a dedicated business support team for the businesses so that their employment, supply chain and business continuity requirements are met. We will produce a business relocation strategy as one of the forty planning strategies that the LDA must fulfill as part of the planning permission for the Olympic Park. This strategy will clarify the economic impact issues that you have raised.