Bulk of London Mayor’s riot fund still unspent

London Assembly’s map of areas receiving funding from the Mayor’s Regeneration Fund (MRF). Photograph: London Assembly

Only 16 per cent of a 70 million pound fund set up to regenerate the areas of London worst affected by the 2011 riots has been spent, according to a new report.

London Mayor Boris Johnson announced the £70 million Mayor’s Regeneration Fund (MRF) in the wake of the 2011 riots, in order to further the GLA’s long-term aim to improve town centres.

But three years on, the London Assembly claims that only £11.4 million has so far been distributed, despite the Mayor indicating that £35.5m would be spent by April 2014.

Gareth Bacon, Chairman of London Assembly’s Regeneration Committee said: “The 2011 riots left many already deprived areas of London facing even bigger economic hurdles and challenges after such wanton destruction. The Mayor’s Regeneration Fund was a welcome recognition that these areas would need help on the path to recovery.”

“These projects must be delivered in a timely and effective manner, so Londoners who have experienced long-term decay in their communities can live in a safe environment, with access to jobs and economic growth.

In ‘Out of the Ashes. The Mayor’s Regeneration Fund’ a London Assembly committee examines how the MRF has improved the quality of life for Londoners in riot affected areas.

The report found that some local businesses in riot-affected expected improvements to happen more quickly, such as upgrades to shop fronts in Croydon.

The Committee has called on the Mayor to refresh his efforts to deliver the MRF, and to do more to explain to affected residents how the money will be spent in future years.

Hackney Funding

Regeneration: The Hackney Fashion Hub. Image: Manhattan Loft Corporation Ltd

However Hackney Council has said that the MRF is already “making a difference” in the borough.

The council received funding from the MRF in 2012, and used the money to rebuild the shop fronts of businesses on Clarence Road and Mare Street worst affected by the riots, and to develop the £100m fashion hub on Morning Lane.

A Hackney Council spokesperson said: “The funding is already making a difference in terms of shop front improvements, the development of the fashion hub, and making Hackney Central a more attractive place to visit and do business.

“By the time the project is complete, at the end of the 2016, the fund will have helped us to deliver hundreds of jobs for local people through our Ways Into Work programme and it will be attracting around 3.5 million shoppers to the area, who will be able to enjoy all that Hackney Central has to offer.

“The Mayor’s Regeneration Fund has helped us achieve our aim of creating jobs for local people and opportunities for new businesses.”