Newham Council invests £40 million in Olympic Stadium legacy

17:40 29 March 2012

The Olympic Stadium...Newham Council are aiming to invest to secure the legacy of the stadium

The Olympic Stadium...Newham Council are aiming to invest to secure the legacy of the stadium

Archant

Newham Council have agreed to invest £40 million to secure the legacy of the Olympic Stadium.

Members agreed to confirm a decision they made last November and invest the money in the adaptation of the Olympic Stadium in Stratford...subject to agreement of conditions including “appropriate financial and legacy benefits.”

It follows what the authority calla “constructive discussions” with the Olympic Park Legacy Company (OPLC) as a result of the Council’s previous decision in November last year.

The Council further agreed to establish Newham Legacy Investments Limited, a company wholly owned by the London Borough of Newham. It is proposed that Newham Legacy Investments Limited enters into a Limited Liability Partnership with the OPLC to manage the legacy of the Olympic Stadium and island site.

An updated proposal relating to the stadium partnership, the conversion works and the basis for an investment was agreed at the meeting of the full council.

The Council is playing no part in the OPLC’s current process of selecting stadium concession holders.

Mr Kim Bromley-Derry, Chief Executive of Newham Council, said: “We continue to make good progress in securing the legacy of the Olympic Stadium and are working positively with the Olympic Park Legacy Company.

“Our vision for the Olympic Stadium remains to create significant community benefits including job creation, increased sports participation and the establishment of a world class visitor attraction.

“We are determined to help deliver the promises set out in the original Olympic bid book to transform the lives of those living in London’s East End, especially for the residents of Newham.”

Latest Stories

Yesterday, 18:17
The Shomrim Patrol member found this chilling graffiti in Upper Clapton [Photo by @ShomrimOfficial]

Police are investigating after two swastikas were found daubed on a wall in Hackney.

Read more
Yesterday, 17:07
Is this the ugliest new building in Britain, never mind London? [Photo by George Rex under a Creative Commons license]

You might have heard of the Stirling Prize for beautiful buildings – now get ready for the Carbuncle Cup, honouring the ugliest new building of the year!

Read more
Yesterday, 16:59
Julie Sillitoe

A taxi driver crushed to death by falling masonry only went out to work in “horrendous” weather to pay for her beloved husband’s birthday present.

Read more

TOP Stories

Yesterday, 18:17
The Shomrim Patrol member found this chilling graffiti in Upper Clapton [Photo by @ShomrimOfficial]

Police are investigating after two swastikas were found daubed on a wall in Hackney.

Yesterday, 17:07
Is this the ugliest new building in Britain, never mind London? [Photo by George Rex under a Creative Commons license]

You might have heard of the Stirling Prize for beautiful buildings – now get ready for the Carbuncle Cup, honouring the ugliest new building of the year!

Yesterday, 16:59
Julie Sillitoe

A taxi driver crushed to death by falling masonry only went out to work in “horrendous” weather to pay for her beloved husband’s birthday present.

Promotions

Advanced running and training technology for beginners up to elite athletes

If you’re thinking of adding running treadmill to your fitness routine, you’re on the right track! There are several advantages to running on a treadmill versus running outdoors.

Renault-Zoe

The Renault ZOE follows on from the introduction of the electric Fluence ZE and Twizy, but unlike the former, the ZOE was designed from the ground up as an electric vehicle.

When no simple way to find Real Ale was at hand, 4 Ale enthusiasts got together to allow anyone with a smart phone to find Real Ale no matter where they happened to be, this was the birth of the Perfect Pint app.

London Bloggers

Yesterday, 17:16
Do you really need an explanation for that?! (Pic by Serena Marinelli)

If you’ve ever seen an Italian movie, you would probably know how important body language is in the culture.

Tuesday, August 26, 2014
Don't waste any of your harvest

If you are now inundated with ripe tomatoes, juicy green beans, berries and herbs, don’t leave them to go stringy or mouldy because the freezer can go a long way to making your crops last well into winter.

Friday, August 22, 2014
It turns out painting is the perfect thing to do in bars

I’m somewhat of a casual, lazy and very much amateur painter and after a busy day at work, the prospect of getting all my brushes, acrylics, water and other faff out is far from appealing.

Quizzes

Amy Winehouse's second album became a classic

Are you an Amy Winehouse superfan?

Read more
I'm only going to say this once: Stand. On. The. Right.

James Bond is Britain’s most famous secret agent, and the capital is its most famous city, so it makes sense that 007 would live and work here when he isn’t gallivanting around the world.

Read more
Can you find the animals hiding in London station names? (Photo by Peter Macdiarmid/Getty Images)

You may not realise it but there are animals hiding in stations across London? Play our quiz and see if you can you find them:

Read more