An Ad Hoc Committee was established Wednesday by Los Angeles City Council designed to scrutinize matters and contracts related to whether or not Los Angeles should bid for the 2024 Summer Olympic Games.
The Chair of the committee will be Los Angeles City Council President Herb Wesson who proposed setting up the committee and plans to study Olympic documents and contracts.
The committee will have its first meeting Friday to discuss the proposed Joinder Agreement between the City of Los Angeles and the United States Olympic Committee (USOC).
Following the discussion, the committee will advise Los Angeles City Council on whether or not to agree to sign the Joinder Agreement – the first step towards Los Angeles bidding for the 2024 Games. City Council will reportedly vote on the agreement next week.
Wesson said, “the City Council desires to present the most fiscally-responsible and competitive Olympic bid on behalf of Los Angeles, a two-time host city of the Summer Games. We cannot let our excitement trump our responsibility to the taxpayers and must ensure all documents have been thoroughly vetted by the newly-created Ad Hoc Committee on the 2024 Olympics”.
Among the documents the committee will review will be the Joinder agreement and the Host City Contract, the signing of the latter by the mayor is required once a city is elected by the International Olympic Committee (IOC); L.A. Mayor Eric Garcetti has already indicated that he is willing to sign the document that would commit taxpayer dollars to cover any cost over runs.
Boston Mayor Marty Walsh backed out of the possibility of signing the Host City Contract, eventually leading to the demise of the Massachusetts bid.
Should the USOC select Los Angeles to bid for 2024 Olympic Games?
- Yes (68%)
- No (25%)
- Not Sure (6%)
On Monday LA 24 bid Chair Casey Wasserman tweeted a 218-page bid book outlining a the preliminary budget and venue plan proposed for the Games. The report summarized that the Games would turn a $161 million surplus after spending $4.116 billion that will be partially offset by a $1.5 billion IOC contribution.
Should Los Angeles decide to bid for the 2024 Games, its competitors would be Paris, Rome, Hamburg and Budapest. Baku and Toronto are also considering bids.
The USOC will have to nominate Los Angeles as its bid city for the 2024 Games by September 15, the IOC deadline for potential candidates, if it is to move forward.
The IOC will elect the 2024 host city September 2017 in Lima, Peru.