ABSTRACT
This chapter explores the evidenced that the much heralded regeneration has had a less than inspirational impact on the wider London community. For London 2012, key features of this explicit politicizing' are community benefits and community engagement and support for the Olympics. Three models of regeneration costing were available for London 2012. The Barcelona 1992 model would involve taxing the whole country, with the proceeds invested in the host city. The Athens 2004 model would require 13 billion of EU taxes given by the unaudited Community Support Fund. Finally, most disturbingly for Londoners the Montreal 1976 model in which only the host city populace is taxed and the city administration subsequently goes bankrupt. However, the newly formed 2012 Olympic Park Legacy Company (OPLC), overseen by American born Andrew Altman is now tasked with dealing with all Olympic legacy-related issues. As highlighted above, the OPLC, formed in 2009, will lead the transformation of the Olympic Park into its post-Games legacy mode'.
