Ministers agree to transfer RDA assets to Homes & Communities Agency

Land and property assets owned by regional development agencies will be transferred to the Homes and Communities Agency in September 2011, ministers have revealed.

The government said the HCA would 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 majority of the land, property assets and liabilities will be transferred under the Housing & Regeneration Act 2008.

As part of the move, the HCA will establish local committees made up of representatives from business, local enterprise partnerships and others.

This “stewardship arrangement” will allow local communities to influence the development of local assets, the Department for Business, Innovation and Skills said.

DBIS said details of the individual assets to be included in the transfer would be announced when the order to transfer had been signed off. The target date is 19 September.

Business and Enterprise Minister Mark Prisk claimed the transfer of RDA land and property assets underlined the government’s commitment to making sure the assets were 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,” he insisted.

Baroness Hanham, a junior minister 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.”

The process of abolishing RDAs and replacing them with LEPs is expected to conclude in 2012.