New mayoral development corporation approved but members warn against repeat of 'island of prosperity' mistakes of 1980s
The London assembly has approved the creation of a mayoral development corporation (MDC) with wide-ranging planning powers to take control of the land around the Olympic Park and any future development on it.
The new body, designed to oversee the development of the park and the surrounding area including the Stratford City site that contains the Westfield shopping centre, is expected to be in place by the end of the financial year.
Assembly members gave their backing for the plan on Wednesday, but warned that it must not repeat the mistakes of the London Docklands Development Corporation in the 1980s and create an "island of prosperity" that did little for the surrounding area.
The mayor of London, Boris Johnson, said that because the body would be accountable to the assembly and his office, and would have representation from the four local boroughs involved, it would act in the best interests of local people.
"The goals of the MDC are not just to maximise receipts from land and buildings but to achieve economic convergence with that part of London and the rest of London. It is a social mission as well," he said.
Johnson confirmed that the MDC, which will effectively take over from the Olympic Park Legacy Company (OPLC) that is in the process of finding a use for all the main 2012 venues after the games, would have to comply with the Local Government Act by holding its meetings in public and publishing minutes.
Johnson, who will now submit the plans to the government for approval, said there would be "a large element of continuity" between the OPLC and the MDC, and that he expected its "entrancing vision of how that part of London can be transformed" to remain largely intact.
The OPLC is running a new tender process for the main stadium after its original deal with West Ham United was scrapped in the face of a series of legal challenges. It hopes to sign binding agreements with new tenants, likely to again include West Ham, by May.
Andrew Boff, a Conservative member of the London assembly, said: "I'm hoping this isn't a great mistake. I think on the whole I'm supportive of the plans because this isn't just about this park, it's about the catalyst for the regeneration of the entire East End."
Darren Johnson, a member of the assembly's Green group, said: "I'm very reassured by the mayor's commitments to throw the doors open when making decisions about the future of the Olympic Park. But the mayor must ensure that local residents and community groups can make representations to planning committee meetings, otherwise it could turn out to be less open that a normal council committee."