DD1136 Olympic stadium leases

Type of decision: 
Director's decision
Code: 
DD1136
Date signed: 
07 January 2014
Decision by: 
David Lunts, Executive Director Housing and Land

Executive summary

The London Legacy Development Corporation seeks prior Mayoral approval under delegated authority, as required by Paragraph 4.5 of the LLDC Governance Direction 2013 (approved by MD1227) to grant a Lease for the Olympic Stadium to E20 Stadium Limited Liability Partnership (LLP), the SPV established to develop the Stadium and deliver post-Games legacy objectives, following the meeting of all conditions of an Agreement for Leases signed by LLDC and E20 Stadium LLP in March 2013. Approval is required because this is a 'land transaction' as defined by clause 2 of the National Lottery Funding Repayment Agreement.

Part 1: Non-confidential facts and advice