British government puts another $491 million toward London 2012 Olympic Village

British government adds to 2012 Village bailout

LONDON — The British government has put another $491 million of public money into the Olympic Village for the 2012 London Games after being unable to secure private financing because of the recession.

The government said Wednesday it had a private bid but the offer was too low.

The government already dipped into its contingency fund in January to allocate an extra $477 million for construction of the village, which includes 2,800 apartments. The entire village project is to cost about $1.51 billion.