Quote:
Originally Posted by GGG
The Olympics have a net operating loss of about 1 to 1.5 billion depending on which set of numbers you look at. So effectively the entire federal portion of the costs is going to running the games. 0 matching funds are going to infrastructure.
This is what I see as the ultimate failure of the bid. It fails to leverage federal dollars to build infrastructure for Calgary. Instead the province and city are paying for all the infrastructure whether it is required or not.
The provincial money really depends on what you will think happens in the next 8 years. If every response to infrastructure requests are met with you chose to spend the money on the Olympics then it is not new money and not a benefit of the Olympics. If you believe tha Calgary will continue to get its share of additional Capital dollars than it is a benefit to Calgary.
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This makes a lot of sense, and that is my concern as well regarding the provincial funding. It seems like the best case scenario then would be that we are breaking even and having a great party for a few weeks.