The Leicester Regeneration Company (LRC) was a not-for-profit Urban Regeneration Company

Urban Regeneration Company

Urban Regeneration Companies are private companies in the United Kingdom that seek to achieve a radical physical transformation of their areas through masterplanning and co-ordinating financial assistance to developers from both the public and private sector....

, funded by Leicester City Council

Leicester City Council

Leicester City Council is a unitary authority responsible for local government in the city of Leicester, England. It consists of 54 councillors, representing 22 wards in the city, overseen by a directly elected mayor. It is currently controlled by the Labour Party and has been led by Mayor Sir...

 (LCC), East Midlands Development Agency

East Midlands Development Agency

East Midlands Development Agency is the regional development agency for the East Midlands region of England formed in 1999.-Structure and function:...

 (EMDA) and English Partnerships

English Partnerships

English Partnerships was the national regeneration agency for England, performing a similar role on a national level to that fulfilled by Regional Development Agencies on a regional level...

 (EP). These groups were represented on the Board, which is private sector

Private sector

In economics, the private sector is that part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state...

 led and had a private/voluntary sector majority. The role of the LRC was to involve various stakeholders, in an attempt to regenerate the city of Leicester

Leicester

Leicester is a city and unitary authority in the East Midlands of England, and the county town of Leicestershire. The city lies on the River Soar and at the edge of the National Forest...

. The company was set up in April 2001, and became operational in early 2002, in response to the Government’s Urban White Paper

White paper

A white paper is an authoritative report or guide that helps solve a problem. White papers are used to educate readers and help people make decisions, and are often requested and used in politics, policy, business, and technical fields. In commercial use, the term has also come to refer to...

. It is one of 16 Urban Regeneration Companies in the UK.

In April 2009 the LRC merged with the Leicester shire Economic Partnership to form Prospect Leicestershire.