The London Development Agency remains locked in negotiations about how best to transfer land and associated debt at the 2012 Olympics site to the new Olympic Park Legacy Company just days from the launch of the special purpose vehicle.
The OPLC is due to be up and running from next month.
It will be tasked with working up plans for up to 12,000 homes at the 500-acre Olympic Park as well as creating a sustainable legacy for the £350m Olympics media centre in Hackney Wick.
Its first task will be to oversee the submission of the planning application for the Olympic Park.
However, the government and the London Development Agency, which has overseen the £1.1bn acquisition of the site, remain locked in discusssions about the best way to set up the OPLC.
The discussions are understood to revolve around how ownership of the site can be transferred to the new vehicle and whether the government should take on the debt LDA has accumulated buying the site. The LDA is thought to be unwilling to retain the debt on its books.
An LDA spokesman confirmed that a Board meeting of the agency on Wednesday had been unable to agree on the OPLC set up.
He said: “The LDA is committed to securing the best Olympic legacy for
“We are currently in discussions with Olympic partners about the financial set up of the OPLC. While it is essential that the company has the best start, the LDA is committed to ensuring that it protects its core programmes as well as safeguarding the public purse.
“These discussions are ongoing and all parties are working towards a solution that provides
See EGi’s Olympics Blog for more on this story.
