05 Oct 2011, 3:32 pm
Property developer Sir Stuart Lipton and Julian Metcalfe, the entrepreneur behind Pret A Manger and Itsu, will advise the local authorities on the regeneration schemes, the Greater London Authority (GLA) said.
The aim of the regeneration is to not only restore the areas, which had already been identified by the mayor as priority zones for regeneration, but make them a better place to live, work and invest, it said.
The taskforces led by the businessmen will create 'local masterplans', which will map out the approach to improve transport; buy and rebuild affected properties; fund business rate relief, and support employment.
“This is a once-in-a-generation opportunity to build on the momentum of rebuilding and repair work and turn it into a permanent regeneration of two long-neglected areas of the capital," said Johnson.
The businessmen have been asked to report to Johnson with their final masterplan for redevelopment by the end of the year. Following approval the local authorities will begin to implement it, the GLA said.
In addition to the £20m funding for the taskforces, the High Street Fund has also provided emergency cash grants for 209 London businesses affected by the riots. The total funding awarded so far is worth about £430,000. The GLA said that new applications continue to arrive daily.
