The Plenary session of Madrid’s city council has approved the bylaws of the Madrid 2012 Foundation.
Also, the Plenary session has ratified an agreement with Madrid to stimulate the development of the New East Centrality, an area of more than 5.8 million square metres to the east of M-40 highway opposite Madrid’s stadium, for the site of the Olympic Village.
The 85,000 square metre area will house facilities for 17,500 people as well as social, recreational and sports equipment to meet the requirements of the International Olympic Committee, should Madrid win the 2012 Summer Olympic bid.
