5-567: The South Tees Development Corporation (STDC) is the first mayoral development corporation outside of Greater London , established under the Cities and Local Government Devolution Act 2016 . It was created to "promote the economic growth and commercial development of Tees Valley by converting assets in the South Tees area into opportunities for business investment and economic growth". The jurisdiction comprises approximately 1,800 hectares of land to
10-483: The former Redcar Steel Works in April 2019. The £11.5m valuation of the site was contested by the owners Sahaviriya Steel Industries . Development corporation#Mayoral development corporations Development corporations or development firms are organizations established by governments in several countries for the purpose of urban development . They often are responsible for the development of new suburban areas or
15-565: The redevelopment of existing ones. In Australia development corporations are often responsible for the economic promotion and growth of areas considered to be under-performing economically. Such corporations include: In the United Kingdom , New Town Development Corporations were organisations established under the New Towns Act 1946 ( 9 & 10 Geo. 6 . c. 68) by the UK government , charged with
20-613: The south of the River Tees in the Borough of Redcar and Cleveland . The land includes former Teesside Steelworks and other industrial sites and is close to Teesport . There are 16 members; the Tees Valley Mayor , Leader of Redcar and Cleveland Borough Council , and the Mayor of Middlesbrough have statutory posts on the board. The corporation made a Compulsory purchase order for land at
25-666: The urban development of an area, outside the usual system of Town and Country Planning in the United Kingdom . Originally intended to manage the development of New Towns in the United Kingdom , they were also established for more substantial urban renewal programmes by the Town Development Act 1952 . The Localism Act 2011 permitted the Mayor of London to create mayoral development corporations in Greater London . The Cities and Local Government Devolution Act 2016 permitted
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