Mayoral Development Corporation to control planning and development

The new MDC body will be called the London Legacy Development Corporation (LLDC) and will be chaired by Baroness Margaret Ford, the current chair of the Olympic Park Legacy Company (OPLC). Ford will be the interim chair of the LLDC until the Olympic Games are over, when she has decided to step down from the role.

The LLDC will continue the work of the Olympic Park Legacy Company (OPLC) as well as managing some of the assets and responsibilities of existing regeneration agencies in the area, such as the Thames Gateway Development Corporation.

The transition from the OPLC to the LLDC will be overseen by Ford, in her capacity as interim chair. She will also be responsible for completing some outstanding goals of the OPLC, such as securing tenants for the remaining Olympic venues.

The new LLDC will have greater powers over the Queen Elizabeth Olympic Park and the wider area, which includes control of planning and development. The LLDC will be directly accountable to Londoners through the Mayor.

The OPLC has worked to deliver the Olympic legacy pledges that were made in the London 2012 bid. Its main work has been to ensure the long term physical legacy, including the planning, development, management and maintenance of the Olympic Park and its facilities after the London 2012 Games.

The OPLC has secured land and restructured the debt, developed a masterplan and prepared and submitted planning applications for the Park, which include five new neighbourhoods and 7,000 homes.

The new LLDC will officially open on 1 April.