Vancouver city council released a report that provides the only account of what the city spent on the construction of infrastructure for the 2010 Winter Olympic and Paralympic Games.
The city spent about $524 million in capital costs and another $30.3 million in operational costs related to the games.
City manager Penny Ballem’s report details all the Olympic construction expenditures, over the last seven years, into a comprehensive estimate.
“The capital funding has been dedicated to build new infrastructure and civic facilities or to upgrade our existing capital assets, providing a sustainable legacy for the citizens of Vancouver,” said Ballem in the report
According to the report, the city spent $73.8 million on competition venues, which included the curling venue at Hillcrest Community Centre, short-track speed skating and figure skating venue at the Pacific Coliseum as well as practice ice rinks at Trout Lake, Killarney and Britannia.
New facilities were built at Hillcrest and Trout Lake, while the other facilities were upgraded. The city spent $120.9 million on non-competition infrastructure, which included the completion of the Canada Line project, redesign and reconstruction of Granville Mall, Granville Bridge strengthening, Expo Deck repairs, Trout Lake road improvements, the construction of the Olympic Street Car Demonstration Line, and the renovation of Queen Elizabeth Theatre, Queen Elizabeth Playhouse and the Orpheum Theatre.
The Athlete’s Village was estimated to cost the city $299.8 million, but the number didn’t include a market loan of up to $969 million to the developer, Millennium Development Corporation, nor any future recoveries and revenues. Despite the effort to tally all the costs in one bill, there is some disagreement about whether some projects were actually Olympic.
Posted by: admin
Categories:
Uncategorized
