Greenwich Council has to provide £125,000 to buy back a lease it originally gave away for free, it has been claimed.
Conservatives say the funding was revealed at a call-in meeting last week into the £3m plans for Charlton Lido.
Open Waters, the company first tasked with the lido's refurbishment, were originally given the 99-year lease for nothing.
But their plans fell through and now Greenwich Leisure Ltd is taking on the project - with the help of £125,000 in council funds to buy the lease back again, it is claimed.
Greenwich Conservatives have branded the funding, which comes on top of £250,000 more from the council, a "waste of taxpayers' money".
A spokesman for Greenwich Council denied the claims, saying: "We made no payment to acquire the Charlton lido lease from Open Waters Ltd.
“Greenwich Leisure Limited, a not-for -profit company, purchased the lease directly from Open Waters Ltd in 2011.”
The lido is expected to reopen in July.
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