Quote:
Originally Posted by chemgear
Apparently summer games overran their budgets by 213 percent so they ended up spending more than 3 times what their bid claimed.
Winter games overran budgets by 142 percent so about 2.5 times what their bid claimed.
Lol at the thought that we would magically be getting "somebody else's" free  money to build and upgrade infrastructure. ####ing crazy, I mean hopes and dreams for financial planning. Especially when the Federal government had already explicitly told Calgary that it would not be responsible for any overruns.
Eating literal billions of dollars in obvious overruns = magical free money to some people  |
Its still incrementally $1B directly to infrastructure to the city from the province and federal government that otherwise would not have been received.
Scenario 1 (100% overage assumed): You build a house, and I gave you a $1M budget and you said yes, and then built it and it turned out to be $2M because of inflation, overruns, terrible unbudgeted issues.
You pay $2M and get a house.
Scenario 2 (100% overage assumed on both house and party): You build a house and throw a party. I give you a $1M budget for the house and a $500K budget for the party. I will help you pay $500K for the house and $500K for the party. Your house ends up costing $2M and the party $1M.
You pay $2M and get a house and a party which allowed you to meet your neighbors, and create some future business connections improving your future earnings.
Which scenario would you rather have?
The federal and alberta government were going to cover virtually all of the operating expenses of the 'party' while providing over a $1B in capital improvements budgeted at $1.6B...