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Property developer Sir Stuart Lipton and Pret A Manger founder Julian Metcalfe will lead two new taskforces charged with regenerating Tottenham and Croydon, the mayor of London announced today.

The taskforces will address the long-term transformation of the boroughs, which were badly hit by the London riots in August. They will bring together local councils, business people and the community, and will benefit from a 拢20m funding pot allocated by Boris Johnson and the government.

Business leaders Lipton and Metcalfe will advise the local authorities on how best to drive forward regeneration and maximise investment.

Each taskforce will work towards creating a masterplan for improvements intransport infrastructure, buying up and rebuilding affected properties, and funding business rate relief, as well as supporting employment. 

Ultimately, they will aim to restore Tottenham and Croydon, and to make them better places to live, work and invest.

Mayor of London Boris Johnson said: 鈥淭his is a once-in-a-generation opportunity to build on the momentum of rebuilding and repair work and turn it into a permanent regeneration of two long-neglected areas of the capital.

鈥淔ollowing the appalling destruction we witnessed in August, these taskforces will harness the expertise of business leaders, Haringey and Croydon councils and local people themselves to set the course of the future for their areas.

鈥淏oth Sir Stuart and Julian Metcalfe bring with them a wealth of commercial experience to help champion investment to improve the lives of Londoners in Tottenham and Croydon and I am delighted they have taken on these vital roles.鈥�

The taskforces鈥� proposals will be planned and managed by the local authorities, and each borough council will appoint a project team to lead on project management. The groups will report back to the mayor with their final proposals for regeneration by the end of 2011.  

In addition to the funding for the taskforces, the High Street Fund has also provided emergency cash grants for 209 London businesses affected by the riots. Around 拢430,000 has been awarded so far, and new applications are still being processed.