Paul, it is a fact that with the various ownerships of the sites that make up what is now St James' IF it were to be redeveloped as a 'scheme' a body such as DDC would have to take overall 'ownership' to lead to successful CPOs.
It is also a fact that various regeneration agencies have the job of input of general taxation monies to boost 'deprived' areas.
This has been most notable with regeneration especially in Northern cities where Liverpool is probably the best known example (
http://liverpool.gov.uk/business/regenerating-liverpool/ ) - though the 'buzz' one feels in such as Leeds, Sheffield, Manchester with commerce, transport schemes and built environment, frankly makes London seem a bit like Sleepy Hollow.
Locally we are just a bit crap at Grande Projects. I wont embarrass you by listing Dover's failings over the years but just look at Thanet!
£23 million on the Ramsgate Harbour Approach road (the one they use for that car commercial since there's nothing else on the road)! Perhaps we could get this 'twinned' with out £15 million Rapid Bus Transport Route?
How many millions into Dreamland?
With the St James site even the 'vision' has changed over the years. When the original crap idea (supported by ALL parties) of a mega-supermarket fell through the DDC snake oil salesman spun it as a wonderful opportunity bring in even better plan B to be superseded by the rest of the alphabet as the yokel voters were meant to sit chewing straw awaiting the Emperor's first outing in the much hyped New Clothes.
As you note 'Thanet have been living on it for years' which is a bit like noting that Africa has been dependent on foreign aid for years.
The same as with Africa how much of the Aid/regeneration is actually spent on anything which helps the 'natives', how much is wasted on vanity projects and why are all the NGOs driving round in brand new Land Cruisers?
(and yes I was referring to the SniffMobile in that last sentence!)