§ Mr. SpringTo ask the Secretary of State for the Environment when the Bristol development corporation will be wound up; and if he will make a statement. [36550]
§ Mr. CurryStatutory orders will be laid before Parliament later this year to effect the wind-up and dissolution of Bristol development corporation. Subject to parliamentary approval, the corporation will cease to act from 1 January 1996, except for the purpose of preparing its final accounts and report and winding up its affairs. The corporation will be dissolved on 1 April 1996.
Urban development corporations were set up, with finite lifetimes, to regenerate their designated areas. Since designation on 30 June 1988, Bristol development corporation has provided major infrastructure investment which has already revitalised much of east Bristol.
The corporation expects its activities to lead, in total, to the reclamation of 81 hectares of land, the creation of 450,000 sq m of commercial floorspace and 1,220 housing units, the creation of 16,500 permanent jobs and the attraction of £650 million of private sector investment. Bristol will continue to reap the benefits of the corporation's activities well into the new millennium.