The Mayor’s office has asked accountants to find out how the London Development Agency (LDA) is now short of over £150m.
The LDA is in charge of buying up land for the Olympics.
It had to pay 3,000 organisations and people to leave parts of Stratford so it could build for the Olympics.
Now with this black hole, BBC London explains that the LDA is going to have to axe some of the Olympics’ projects to balance up things.
Apparently, it will dump those projects with "relatively poor value for money".
Makes you wonder why they created and funded projects with poor value for money in the first place.
Could this sudden audit be a blessing in disguise for the 2012 coffers?
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