A newly updated version of Los Angeles’ proposal to bid for and host the 2024 Olympic Games, complete with a budget, was released Tuesday and sent to L.A. city council for evaluation according to a Twitter message from Chairman of the LA 2024 Exploratory Committee Casey Wasserman.
City Council is expected to vote Wednesday on a motion that will allow the Mayor to commit to a bid for the Olympic Games. A United States Olympic Committee (USOC) nomination is expected to follow shortly after.
According to the so-called LA 2024 (or LA24, the moniker used throughout) “bid book” document now available online the new version factors in the (USD) $1.5 billion contribution offered by the International Olympic Committee (IOC), changes to estimated insurance premiums and the USOC share of net revenues and expenses.
As announced earlier in the month, LA 2024 expects to spend $4.116 billion on venues, operations and “key” services while earning revenues of about $4.827 billion, including the IOC’s contribution. After spending $150 million for insurance and allowing a $400 million contingency, almost 10% of the total, organizers expect to net $161 million.
The Olympic Stadium modifications will cost $300 million while all other competition venues will cost $713 million.
Still, Los Angeles Mayor Eric Garcetti is willing to back it all up with taxpayer dollars by signing the IOC Host City Agreement, the same document that the Boston Mayor turned his back on after originally making a similar commitment. Boston’s plans were subsequently canceled.
“The City fully intends to execute the Host City Contract for the 2024 Olympic and Paralympic Games.”
“The Mayor’s Office and other appropriate City officials have reviewed the 2020 Host City Contract provided by the USOC, and are confident the City can commit to the spirit and principles embodied in that document.
“The City looks forward to receiving the 2024 Host City Contract to review and execute.”
The calendar has already been penciled in, if the Games are won by L.A. expect the opening ceremony July 19 with the Games concluding August 4. Planners have even taken into account the busy summer schedule in Los Angeles noting that the Emmys, ESPYS, Teen Choice Awards and MTV Music Awards won’t cause a problem.
— Casey Wasserman (@caseywasserman) August 25, 2015
Summarizing it’s proposed narrative, the bid book suggests in glittering Hollywood style “Like the Olympic Movement, we believe anything is possible. That if you can dream it, you can do it.”
Support for the Games is high across Los Angeles. A poll conducted late last year for the bid book suggests 77 per cent support hosting the Games. Earlier this month the USOC indicated that the number had risen to 81 per cent in a more recent poll.
A CITY BUILT TO HOST
In Los Angeles, the spotlight is always on. We have the resources, experience and secure environment to share the biggest events with the world. We successfully host major international events every year — from the annual Academy Awards, Emmys and Grammys, to top Conventions, and world championships in premier sports. Leisure and hospitality jobs account for 11% of all employment and we have over 125,000 hotel rooms, with an additional 25 hotels and nearly 5,000 rooms being built by 2017.
– LA 2024 Bid Book (August 2015)
The bid book highlights L.A.’s modern transport network mentioning that it will leverage the existing HOV lanes and build out the Wilshire Subway Line from Downtown to the Westside.
But organizers are keeping quiet about vision and legacy plans, at least for the time being.
“At this time, we are withholding the publication of details to protect a LA24 partner’s confidential and proprietary business information,” the bid book states.
There are five planned clusters but the most prominent will be the Downtown cluster including the LA Memorial Coliseum, Dodger Stadium, Staples Center, a new aquatics venue and Olympic Village.
LA Memorial Coliseum Olympic Stadium, the planned ceremonies venue, will undergo $100 million in permanent upgrades for the Olympics and another $200 million for Games-time overlays. The University of Southern California is already expected to spend $500 million on renovations to the venue.
The Hollywood cluster will include the IBC and MPC near Hollywood Boulevard.
The Valley cluster will include archery, equestrian, modern pentathlon and shooting.
The Coastal cluster encompasses Santa Monica Beach and UCLA and will host beach volleyball, triathlon in front of Santa Monica Pier, cycling, open water swimming and football.
The South Bay cluster includes an existing velodrome for cycling, and venues for tennis and rugby.
Sailing will take place at the LA waterfront and rowing will be at Lake Casitas,
The focus of the Games will be on sport, the athletes and their incredible stories — memorable moments against iconic backdrops without distractions. With world-class infrastructure consisting of internationally recognized venues and the top storytellers in the world, Los Angeles will elevate the Olympic and Paralympic Movement to inspire the next generation.
– LA 2024 Bid Book (August 2015)
The plans that include many existing venues that can be temporarily modified for Games time seems tightly aligned with the IOC Agenda 2020 reforms that emphasize feasibility and sustainability.
The USOC has until September 15 to nominate a city to bid for the Games. Budapest, Hamburg, Paris and Rome have already entered the race while Toronto and Baku are contemplating the same.