English Partnerships - set up by statute as the Urban Regeneration Agency - will promote the development of vacant, derelict and contaminated land throughout England, bring land and buildings back into productive use, stimulate local enterprise, create job opportunities and improve the environment.
English Partnerships will immediately take over City Grant, which was previously operated by the Department of the Environment. Derelict Land Grant and English Estates will be incorporated next spring.
Mr Gummer said: 'English Partnerships will build on the success of existing programmes and put the Government's private finance initiative into practice. It will target resources more effectively, maximise the leverage of resources from others and forge a new spirit of partnership with all of those involved in regeneration.
'We will make every pound count, paying for early pump priming which can unlock schemes and bringing in private sector and EC money.' Lord Walker also announced Board appointments to English Partnerships. David Taylor, Chief Executive, was appointed in June 1993.
Among those appointed are Sir Idris Pearce, Chairman of English Estates and Michael Carr, the Labour Leader of Middlesbrough BC who had great deal of experience of Government Urban Initiatives including being the Chairman of the Middlesbrough City Challenge Board and a member of the Board of the Teesside Development Corporation.