As part of his commitment to lead the London 2012 legacy from the front Mayor Boris Johnson today chaired the London Legacy Development Corporation board (LLDC) for the first time at which key milestones were agreed that will secure the future of Queen Elizabeth Olympic Park including the delivery of a multi-million pound package of lasting benefits for the communities of East London.

The board approved the Section 106 agreement conditional to the approval of the LLDC’s planning application that will see major mixed use development of the Olympic Park now that the 2012 Games are over changing the lives of thousands of Londoners with new schools, £17million of transport and infrastructure improvements, housing commitments and local employment and training programmes..

The scheme will now receive full planning consent paving the way for detailed design and subsequent development of the first neighbourhood Chobham Manor. The first family homes are set to be ready at the end of 2014 and the LLDC will now work in partnership with the development sector to deliver these new homes and community benefits.

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The LLDC board, which convened at City Hall, also agreed at the request of the Mayor to endorse the Olympic Legacy Supplementary Planning Guidance which sets out his strategic priorities and long term vision for the Olympic Park and its surrounding areas. The guidance will influence all development including the investment plans of landowners, developers and public bodies involved in the transformation of the area as well as the LLDC itself which it is envisaged will have planning decision making powers.

The section 106 commitments includes:

£17m of transport improvements including £4m to improve accessibility and capacity of Hackney Wick Station and the extension of London’s bus and cycle networks through the Park.

Three new schools (one secondary school and two primary schools) and 9 nurseries

Three new health centres

Employment and training programmes for local people

Community centres, a library and space for three safer neighbourhood teams

A site-wide target of 42% family housing units to help people remain in the Host Olympic Boroughs when they have children

A site-wide target of 35% affordable housing with a minimum provision of 20% affordable housing

Strong sustainability commitments including a minimum of code level 4 for sustainable homes and connections to the district heat network meaning an end to boilers

The establishment of an independent Quality Review Panel to ensure a high standard of design during the 18 year development of the Park

London Mayor Boris Johnson, Chairman of the London Legacy Development Corporation, said: "After staging the greatest Games ever there is not a moment to lose in delivering the legacy we have promised Londoners. Today we have made two key decisions that ensure our plans can move forward quickly, so that we can reopen it as the major visitor destination it promises to be and the brand new communities of east London can become reality."