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Two development agencies, brought in by the previous government to drive regeneration in London, have been scrapped in the government’s quango cull.

The government has confirmed the London Thames Gateway Development Corporation and Thurrock Development Corporation will have their functions devolved to local government or other London bodies.

The Thurrock Development Corporation had been responsible for developing 18,500 homes while the LTGDC had been overseeing the development of 68,000 homes.

The Olympic Park Legacy Company, which was overseeing the development and sale of the athlete’s village post-2012, will continue to exist but will be reconstituted as the Mayoral Development Corporation.

Bob Lane, chairman of the London Thames Gateway Development Corporation said he was proud of what the body had achieved. Since being set up in 2004 it has granted consent for 16,000 new homes and commercial space for 14,000 jobs.

Lane said: “LTGDC was created as a limited life agency to lay the foundations for east London’s sustained regeneration. We expect to continue working on our key projects until 2013 while we organise a phased hand over to succession bodies to ensure successful arrangements are in place to maintain the continued regeneration of east London.“