£230 million 'is not enough' to convert venues after Games
A £230million fund for the conversion of Olympic Park venues after the Games is insufficient, it has been claimed.
Officials from the London Development Agency, which is responsible for the transformation of the Park after 2012, are to request extra cash from Olympics minister Tessa Jowell.
They are particularly concerned about a funding shortfall for converting the main stadium and the aquatics centre.
Legacy conversion after the Olympics applies to bridges, roads and landscapes as well as sports venues.
Within the overall £9.3billion budget, planners have allocated £350million for this purpose, with £230million needed for the Park in Stratford. This is in addition to the maximum £10million per year pledged by former mayor Ken Livingstone towards maintenance of the venues. The LDA will now request extra funds from the Government, possibly from the £2billion contingency fund.
Next month Ms Jowell will give her quarterly update in the Olympic budget. Although it will track the cost of individual projects, it will cast no light on the legacy transformation.
A source said: "We have arrived at the view that the current budget is inadequate and we need to have a discussion with the Government about where additional resources can be found, whether it's inside the Olympic budget or outside it."
The LDA's plan to improve the wider area, to include 11,000 new homes, schools and health centres, will be published in the summer. Next month a report on the legacy proposals by consultants Capita Symonds and KSS will be presented to the Regeneration Steering Group.
