Recommendation
That LOCOG continue to explore opportunities with the legacy owners and the sport community to ensure the optimum long term benefit is achieved in lease/buy decisions.
History
Status at 31 Mar 2013
Closed
LOCOG was clear that they would lease items wherever possible but where a potential legacy owner that would pay any premium for buying products was identified then they would do this. LOCOG had an asset disposal strategy to recoup revenue from the disposal of assets. Some assets were also earmarked for donation. Some relevant assets were sold to the LLDC for use in legacy. The Commission did not assure the end destinations for items disposed of at the end of LOCOG due to the need to complete the Commission’s post-Games report and this report before the end of the Commission’s life. Closed
Status at 01 Oct 2012
Significant Risk
Status at 31 Mar 2012
Significant Risk
LOCOG was clear that they will lease items wherever possible but where a potential legacy owner that will pay the premium for buying products is identified then they will do this. LOCOG has an asset disposal strategy which looks to recoup revenue from the disposal of assets. Some assets have been earmarked for donation. However, those assets which are earmarked to be sold will be sold through a variety of means post-games. LOCOG has determined that it will not be offering the LLDC, or any other venue owners, assets at no cost. The Commission understands that negotiations are underway between the LLDC and LOCOG to determine what legacy the LLDC will purchase and what, of LOCOG overlay in the Park will be removed and sold to other customers. One obvious asset which would benefit the LLDC is LOCOG's bin solution. The Commission is keen to ensure that sustainability outcomes are considered within the context of asset transfer and that where possible, appropriate sponsorship opportunities are explored by potential purchasers to offset these costs. Significant Risk
Status at 31 Dec 2011
Progress Made
Status at 30 Sep 2011
Progress Made
Status at 30 Jun 2011
Progress Made
Status at 31 Dec 2010
Progress Made
LOCOG has been clear that they will lease items wherever possible but where a potential legacy owner that will pay the premium for buying products is identified then they will do this. Progress Made
Status at 30 Sep 2010
Progress Made
Status at 30 Jun 2010
Status at 31 Dec 2009
This review was published in May 2010. A statement on progress will be provided in the 2010 Annual Review