An Olympic Development Authority responsible for procuring and delivering facilities for the 2012 Games will be set up if London wins the right to host them.
The London 2012 bid team said this week that that supporting infrastructure for the games will be included in an Olympic bill that will be submitted to parliament, should London win the games in July.
The body would have similar powers to the urban development corporations already operating in parts of London's Thames Gateway.
These will enable them to fast track their way through normal planning procedures.
It would also be the vehicle to channel public cash into the transport schemes needed for the games.
The proposal has been worked up by London 2012 bid team, the Department for Culture, Media & Sport, the Greater London Authority and the Government Office for London.