§ Viscount Astorasked Her Majesty's Government:
What assessment they conducted to determine the value of the Dome site without the Dome; and what the projected value was. [HL2162]
§ Lord Falconer of ThorotonA pre-sale valuation of the Dome site has been undertaken in the context of the process to secure a sustainable long-term use for the Dome. This valuation and government appraisals 119WA of the financial value of the site are commercially confidential.
§ Viscount Astorasked Her Majesty's Government:
What are the maximum and minimum amounts they project that English Partnerships will receive from the joint venture with Meridian Delta Limited. [HL2164]
§ Lord Falconer of ThorotonThrough the proposed deal between English Partnerships and Meridian Delta Limited, English Partnerships expects to receive hundreds of millions of pounds, over the lifetime of the project. The amount to be received by English Partnerships will be determined further during negotiations with Meridian Delta Limited, and will also be dependent on timing and quantum of future development.
§ Viscount Astorasked Her Majesty's Government:
What the total costs of the Dome are projected to be, including costs borne by the taxpayer and lottery funding bodies. [HL2165]
§ Lord Falconer of ThorotonExpenditure by the New Millennium Experience Company (NMEC) on the Dome and the costs of the associated programme of events and activities are expected to total £794 million. This sum also includes expenditure on the London New Year's Eve Riverside Event of 31 December 1999 which NMEC co-ordinated for the Millennium Commission. All of these costs are being met from income, including National Lottery grant from the Millennium Commission of £630 million (£2 million of which was for the London Riverside Event specifically) although it is expected that £25 million of120WA this grant will not be used by NMEC and will therefore be retained by the Millennium Commission.
In addition, English Partnerships, the Government's urban regeneration agency, has incurred a total cost of £16.8 million so far, up to the end of 2001. These costs will be recovered from sale proceeds.
§ Viscount Astorasked Her Majesty's Government:
Whether their development plans for the Dome site are acceptable to, and have been agreed by, the local authority and the Mayor of London. [HL2166]
§ Lord Falconer of ThorotonThe London Borough of Greenwich and the Mayor of London have been regularly kept informed about the progress of Meridian Delta Limited's proposals for the Dome and the regeneration of the Greenwich peninsula. While the detailed negotiations continue, English Partnerships and Meridian Delta Limited will work closely with them to develop the proposals, to respond to local concerns and requirements and to start preparations for taking the proposals through the planning process.
§ Viscount Astorasked Her Majesty's Government:
What outside advisers they are using to advise on the proposed deal with Meridian Delta Limited regarding the Dome. [HL2167]
§ Lord Falconer of ThorotonEnglish Partnerships, the Government's urban regeneration agency, is handling the negotiations with Meridian Delta Limited. Its main external advisors are Jones LangLasalle and Berwin Leighton Paisner. In addition, WS Atkins, JMP Consultants Ltd and Gardiner & Theobald have been used to advise on specific aspects.