Leon Walker,
Regen.net,
24 July 2008
Two key Olympic sporting venues will be finished months after their original scheduled completion dates, MPs have warned.
The main Olympic stadium and aquatics centre have had their completion dates extended buy two and four months respectively, a report published today by the House of Commons Public Accounts Committee (PAC) said.
But both venues are still on course to be finished in time for the Olympics' organising committee to hold pre-game test events, the committee said.
Financing problems with Olympic village developer Lend Lease persist (Regen.net, 23 June), but a deal between the company, banks and government is expected to be secured by the end of the year, the report says.
Around 20 per cent of the entire funding for the village could come from banks and government grants for affordable housing, David Higgins, chief executive of the Olympic Delivery Authority, told the PAC.
A report published in June by David Ross, the London mayor's adviser on the Olympics budget, said: "In all scenarios, some significant additional public sector funding is likely to be required."
Preparations for the London 2012 Olympic and Paralympic Games is available here
