Newham Council approves stadium investment
Newham Council has backed plans to invest up to £40m towards the post-Games adaptation of London's Olympic Stadium to its eventual legacy use, subject to conditions.
It follows talks with the now-defunct Olympic Park Legacy Company, while members of the full council also approved the formation of a new company - Newham Legacy Investments.
The wholly-owned group is to enter into a limited liability partnership for the management of the Olympic Stadium and island site following the London 2012 Games.
Newham Council chief executive Kim Bromley-Derry said: "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."
Details: www.newham.gov.uk
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