London Development Agency (LDA) has finally decided to transfer the Olympic Park Land to the Olympic Park Legacy Company, which will be responsible for the site, after the 2012 Olympic games. Boris Johnson, the Mayor of London, announced this news at Mipim, in Cannes. “This has been a long and complex negotiation, but I am delighted to say we have now reached agreement with government on all the issues under discussion,” he said.
The terms of the land transfer from LDA to the Olympic Park Legacy Company have ensured that the company will be an equal partnership between the mayor and the government. Adequate financial arrangements have been made to protect the interests of the LDA and its other important programmes in London.
Sir Peter Rogers, Chief Executive of London Development Agency, also added that the transfer of the land to Olympic Park Legacy Company would give them every success after 2012. He is also confident that, in the future, they would be able to plan investments for the public, even when the finances are tight.
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