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£100M FUND ANNOUNCED FOR LONDON THAMES GATEWAY

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London Thames Gateway Development Corporation today announced details of a two year funding package worth almost£1...
London Thames Gateway Development Corporation today announced details of a two year funding package worth almost£100m from the Department for Communities & Local Government, and that is just the start of an ambitious programme of regeneration projects set to produce outcomes before the 2012 Olympic & Paralympic Games.

Details are included in LTGDC's two year corporate plan, also published today. It is available here.

The money will be used to attract additional private sector investment in the built environment, improve access to services and create jobs.

Chief executive Peter Andrews said:

'In almost every case, LTGDC will be using its resources in partnership with other public sector organisations, such as the London Development Agency, Olympic Delivery Authority and the London boroughs.

'Our role is to act as a delivery agency and to use our project management expertise to facilitate outcomes.'

The projects fall into three categories:

1. transport & accessibility

2. environmental improvements

3. town & neighbourhood centres

LTGDC has budgeted to spend£52m on town and neighbourhood centres,£27m on transport related projects, and£9m on the environment in the period to March 2008.

Mr Andrews said:

'Much of the money invested will be used to fund the first phase of some significant long term development projects; to fully realise these opportunities will require considerable additional investment in future years. The extent to which the LTGDC can secure this will be determined as part of the government's Comprehensive Spending Review 2007, which is expected to begin in the autumn.'

Other public sector agencies will be investing resources in the area and LTGDC will be working in partnership with them to co-ordinate delivery plans and ensure comprehensive and effective regeneration.

'Given the range and complexity of funding programmes in east London there is a real opportunity for us to add value by ensuring co-ordination and making effective interventions to secure important infrastructure works', Mr Andrews added.

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