Formation
The London Docklands Development Corporation was established by the then Secretary of State for the Environment, Michael Heseltine, under section 136 of the Local Government, Planning and Land Act 1980. It was financed by a grant from central government and from the proceeds from the disposal of land for development.
LDDC had very little money, but it did have three crucial levers to deliver regeneration. First of all it had land ownership: this enabled it to enter into commercial deals with developers. Secondly it had planning powers: this was a controversial move, which angered local boroughs, but which allowed, for example, the outline planning permission for Canary Wharf to specify only the height and footprint of buildings, enabling the development to move quickly to satisfy demand. Finally LDDC had the power to broker and enter into contracts.
Additionally, the Government set up an Enterprise Zone covering the Docklands with certain tax breaks.
Read more about this topic: London Docklands Development Corporation
Famous quotes containing the word formation:
“... the mass migrations now habitual in our nation are disastrous to the family and to the formation of individual character. It is impossible to create a stable society if something like a third of our people are constantly moving about. We cannot grow fine human beings, any more than we can grow fine trees, if they are constantly torn up by the roots and transplanted ...”
—Agnes E. Meyer (1887–1970)
“The formation of an oppositional world view is necessary for feminist struggle. This means that the world we have most intimately known, the world in which we feel “safe” ... must be radically changed. Perhaps it is the knowledge that everyone must change, not just those we label enemies or oppressors, that has so far served to check our revolutionary impulses.”
—Bell (c. 1955)
“Those who were skillful in Anatomy among the Ancients, concluded from the outward and inward Make of an Human Body, that it was the Work of a Being transcendently Wise and Powerful. As the World grew more enlightened in this Art, their Discoveries gave them fresh Opportunities of admiring the Conduct of Providence in the Formation of an Human Body.”
—Joseph Addison (1672–1719)