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 from SNAP.PA

There’s nothing funny about a lack of toilet paper.

Read more

Warm temperatures and a lack of rain mean that September 2014 could soon be entering the record books. With hours to go until we turn the calendar page to October it looks like this month will be the driest September across the UK since records began in 1910, the Met Office said. It is also […]

Read more

Promotions

AGA Living Subscription

Every issue of AGA Living magazine is packed full of celebrity AGA owner interviews, interior and design features, ideas to inspire your culinary imagination, mouth-watering recipes and inspirational shopping ideas.

Dojo gives you hand picked recommendations for events, places and activities in London

Tired of always hearing about some amazing event in London after its gone, missing out on the best activities? That’s where Dojo comes in.

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.

There’s nothing funny about a lack of toilet paper.

Warm temperatures and a lack of rain mean that September 2014 could soon be entering the record books. With hours to go until we turn the calendar page to October it looks like this month will be the driest September across the UK since records began in 1910, the Met Office said. It is also […]

TOP Stories

08:45
Do you recognise this man?

This CCTV footage shows the terrifying moments during a robbery at an internet cafe and money exchange in Tottenham High Road.

High Court bailiffs began seizing council-owned TVs, computers and printers at Camden Town Hall

Officers from Camden Council were left red-faced after High Court bailiffs gained entry to the town hall and began seizing thousands of pounds worth of council-owned TVs, computers and printers to repay money owed to a resident.

07:56
Drugs, cash and makeshift weapons seized in Cook's Yard

Police have seized drugs worth hundreds of pounds in Captain Cook’s Yard in London’s East End.

London Bloggers

Wednesday, September 17, 2014
The cast, including Josie Lawrence and Mike Myers

Simon Collins catches up with the improv impresarios, who despite being the world’s longest-running comedy show with the same cast, have lost none of the razor-sharp wit:

Monday, September 1, 2014
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.