Capital needs £180M to cope with Olympic influx

08 February 2007

Central London needs a cash injection of at least £180M to revamp its streets if the city is to accommodate the influx of 500,000 spectators arriving for the Olympics.
This was the call of a trio of London boroughs as Westminster, Kensington & Chelsea and Camden councils formally told the Olympic Delivery Authority that its draft transport plan should be amended to support a public realm legacy for central London.
The boroughs argue that the ODA’s plan is over-reliant on mechanised transport, focusing on the provision of rail services to the Olympic Park, and they want the whole of spectators’ journeys to be catered for.
Large numbers of extra people will be walking and interchanging in central London. Most of the spectators will be staying at hotels there, and the estimated 45,000 media, sponsors, dignitaries and officials will stay in Bloomsbury and the West End.
Sir Simon Milton, leader of Westminster council, said: ‘Although most of the Olympic Games will be held in east London, the West End must not be forgotten. More investment from central government is needed.’
The three boroughs have a list of large-scale streetscene and maintenance projects, costing £300M, they want to deliver by 2012. But they only anticipate using around £120M from their own funds, Section 106 agreements, and other sources.
‘We’re funding a lot of projects ourselves, but simply don’t have the resources or wherewithal to pay for the necessary improvements in their entirety,’ said Michael Begley, Westminster’s head of environment projects.
But he argued that there would be a national benefit from investing in the schemes, creating a good impression for the 500,000 visitors and millions of viewers around the world.
The major projects include Westminster’s scheme to make Oxford Street more pedestrian-friendly, Kensington & Chelsea’s proposals for Exhibition Road, and Camden projects to overhaul walking routes serving Kings Cross, St Pancras and Euston stations. While the boroughs recognise that the Olympic Delivery Authority – which is focused on getting the games sites ready – would not have the funding for such works, the need for improvement ‘should be reflected in the transport plan’.
The leaders of the three councils have met with sports minister, Richard Caborn, to press the case. The minister pledged to discuss the plea with the Treasury.
‘We’re aware that finding additional funding is difficult, but we want to discuss the options available. It could be allowing us to issue bonds, incentivising private sector contributions with tax allowances, or giving us a slice of visitor revenues,’ said Begley.

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Capital needs £180M to cope with Olympic influx

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