New committee to push for LA Olympics bid

Several host cities have underestimated the cost of shoring up for the Olympics.

The analysts’ account detects the program is not clear linked to large number of guide.

In the bid book for the 2024 Olympics that officials released this week, the 7,000-seat stadium in Carson, that hosted a WTA Tour event from 2003 to 2009, will be the site for Olympic tennis.

The USOC must submit Los Angeles to the global Olympic Committee by September 15 as the U.S. bid city candidate for the 2024 Games. The scheme estimates a usd160-million funds spare money from the originial and Games.

“I think it’s much, much more probable that we’ll have a lot of revenue sources that come from this than worrying about the loss”, Garcetti said Thursday in a meeting with the editorial board of the Los Angeles Daily News.

There had been concerns within the council that without the revised agreement with the USOC and the MOU with the organizing committee, the council would not have a voice in shaping Los Angeles’ Olympic plans moving forward. The plan also includes construction of an Olympic Village for athletes.

Los Angeles organizers are projecting a $161 million surplus for a 2024 Los Angeles Olympics, though some analysts say that figure may be overly optimistic.

The full council briefly discussed the committee’s vote on Friday but delayed a final decision until Tuesday in order to give members more time to study the detail of bid documents issued earlier this week. In January, the USOC had picked Boston over L.A., but last month, the USOC rescinded its offer after that city’s mayor said he would not commit taxpayer dollars to pay for cost overruns. Garcetti’s office estimated that the games would cost $5.8 billion and would generate $160 million in profits. The proposed site is a container-handling rail yard owned by Union Pacific Corp.

The contracts and other bid materials will first be reviewed by the seven- member ad hoc committee, which is chaired by Wesson, with Councilman Gil Cedillo as vice chair.

The other members are Councilmen Bob Blumenfield, Joe Buscaino, Paul Krekorian, Mitch O’Farrell and Curren Price.

“In Los Angeles, the spotlight is always on”.

However, the analysts also wanted to know where that outside financing would come from; who would be responsible for cost overruns at private venues and venues outside the city of Los Angeles, such as in Santa Monica; how preparations would effect locations such as the Convention Center and Griffith Park; and whether the city would also have to invest in additional infrastructure such as refreshing highly visible streets and parkways.

If backed by the panel today, the joinder agreement could go to the City Council for a vote hours later at its regularly scheduled meeting.