The Government
has today agreed to transfer land and property assets owned by
Regional Development Agencies (RDAs) to the Homes and Communities
Agency (HCA).
The HCA will own the assets and liabilities, with local
communities involved in decisions about future development plans
to maximise the benefits to economic growth and regeneration in
their areas. The transfer is currently planned to take effect on
19 September 2011.
Business and Enterprise Minister Mark Prisk said:
“The transfer of RDA land and property assets to the Homes and
Communities Agency underlines our commitment to making sure these
assets are used to support economic growth and regeneration.
“Through local enterprise partnerships, the Regional Growth Fund
and Enterprise Zones, we are putting in place an efficient and
locally driven model of regional economic development that ensures
government support goes to where it can have most impact.”
Baroness Hanham, Parliamentary Under Secretary of State at the
Department for Communities and Local Government, said
“Our plans mean local partners will be able to work with the HCA
to influence the development of the land and property assets
previously owned by the RDAs, ensuring the economic and
regeneration benefits have the best possible impact in their areas.”
Pat Ritchie, CEO of HCA, said
“We welcome today’s announcement, which effectively sets out a
key role for the HCA working with local partners to deliver
economic and regeneration benefits to local communities from RDA
assets. This builds on our land and property expertise and our
strong partnerships with Local Authorities to ensure value for
money from those assets.”
The majority of RDA land and property assets and liabilities will
be transferred to the HCA under the Housing & Regeneration
Act 2008.
The HCA will use their expertise in land and property management
to ensure that the assets are fully developed in a way which will
help deliver economic growth and regeneration to local areas. The
HCA will establish local committees made up of representatives
from business, local enterprise partnerships, local authorities
and others. This will allow local communities to influence the
development of local assets.
Notes to editors:
The Government’s intention to replace RDAs with more cost
effective provision of local economic development was announced in
the Coalition Agreement last year. This process is expected to
conclude in 2012.
The RDA land and property assets being transferred under the
Housing & Regeneration Act 2008 will enter into a
stewardship arrangement where the assets will be owned by the HCA
and local partners will act as stewards, providing local advice to
the HCA.
The portfolio of land and property assets to be transferred will
include income generating assets which will provide investment
funds for those assets which need further development.
HCA will assume the legal title of these assets because of their
specialist expertise in developing and managing land and property.
Details of the individual assets to be included in this transfer
will be announced when the order to transfer has been signed off.
Subject to completion of the necessary detailed work and
arrangements the transfer is currently planned to take place on 19
September 2011.
Under a similar but separate stewardship arrangement, BIS will
contract HCA to manage three of its nationally important
technology parks: Ansty Park, Coventry; the Advanced Manufacturing
Park, Rotherham; and SPark, Bristol. HCA will manage these sites
in order to continue the development of these land assets which
will maximise their impact on economic growth. These sites have
been identified as assets of national importance to be retained
within central Government in order to be developed further to
support investments in innovation and technology.
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NDS.BIS@coi.gsi.gov.uk
James Platt
Phone: 020 7215 5978
james.platt@bis.gov.uk