Newham, Hackney, Tower Hamlets and Waltham Forest councils will be handed powers later this year.
Control over the Queen Elizabeth Olympic Park will go to to Newham, Hackney, Tower Hamlets and Waltham Forest councilsFor 12 years, the London Legacy Development Corporation has been coordinating development in the east London park and surrounding areas.
"If we look at the London Stadium for example, when we have a major league baseball weekend, that drives more than £40m into the economy, which is a huge amount for a single weekend. Britannia Morton, executive director at Sadler's Wells, said at least 50% of jobs at the new theatre would go to local people, a new cultural quarter that includes east London outposts of the London College of Fashion and the V&A museum.
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