PtG Article 13.10.2010

London Assembly raises Olympics 2012 legacy concerns

The London Assembly has challenged the ability of the Olympic Park Legacy Company to maximise the economic benefits from the Olympic Park and the 2012 Games.

In a report called “The Finances of the Olympic Legacy”, which was published yesterday, the assembly raises concerns about the implications of transferring the Olympic Park to the legacy company and highlights “a great deal of uncertainty” around the arrangements for post-Games development in east London.

John Biggs, Chair of the Assembly’s Budget and Performance Committee, said: “A huge amount of money has gone into creating the Olympic Park and this investment must result in an economic benefit for East London and the capital as a whole.”

Biggs added: “Everyone thinks responsibility for the legacy is cut and dried, but our investigation suggests there are still many unanswered questions which need to be addressed if London is to get the kind of legacy that was promised.”

SOURCE: Public Property UK