Opportunity Area Funding

Meeting: 
MQT on 2014-03-19
Session date: 
March 19, 2014
Reference: 
2014/1612
Question By: 
Navin Shah
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

At the recent planning committee meeting expert witnesses were of the view that Opportunity Areas should be provided with public sector pump-priming funds for essential infrastructure related work. I agree with this - in particular the five new Opportunity Areas, including the one in Harrow, demonstrate a good case for funding for such purposes. What is Mayor's thinking about this and what sort of funding regime he reckons should be in place for timely funding for the success of Opportunity Areas.

Answer

Answer for Opportunity Area Funding

Answer for Opportunity Area Funding

Answered By: 
The Mayor

Each Opportunity Area has to be considered on its own merits as they all have different characteristics.  For example, at both Vauxhall/Nine Elms/ Battersea and the Upper Lee Valley, there is to be significant investment in transport infrastructure that will help unlock regeneration.  At White City, investment in the public realm and connections is more important.

To help me in my investment decisions, each Opportunity Area Planning Framework (OAPF) is normally accompanied by a Development Infrastructure Funding Study that assesses and quantifies the amount of infrastructure needed in a specific area to support the amount of development proposed.