The only academy which is in feasibility is Stratford City Academy, The capital funding will be in the region of £35 million. This has been calculated by Partnership for Schools and is in tine with Building School for the Future and National Framework funding mechanisms. The academy will be an all age academy, providing 1,832 places for pupils aged three-18 years, The funding be will provided by the Department for Children, Schools and Families, the London borough of Newham and the sponsor, Lend Lease. The final amount will be confirmed at Outline Business Case stage later this year.
Like other academies, Stratford City Academy will receive revenue funding based on the local authority school funding formula, and national formulae applicable to other grants.
In addition, Ian Stewart, an independent reviewer, has been appointed to lead a review into a potential educational legacy at the Olympic stadium. He has been consulting with the Olympic Development Authority and London Development Agency, among other key stakeholders, including community groups, and will report to Ministers at the end of June.