[News] Updated cost for Calgary to host the 2026 Olympic to be $5.23 billion.

[RM14]

Originally Posted by dieHARDflameZ

Do you actually believe this? Rumours out there are that it's been dead silence for a while now.

Yes I actually believe this. Deadly silent since the NDA.

[Bunk]

Originally Posted by JBR

Read the report again. It is not costing the city $3B

Indeed. It'll be something like $550m-$600m. And that allocation will likely be on a lot of the stuff like the field house and housing that we'd likely want to do anyway here locally.

A "matching" by the feds of the mun/prov portion points to a roughly $500m/$1b/$1.5b split. A good deal for us locally to have that cost spread out over a lot more taxpayers in Alberta and more importantly, Canada.

[GGG]

We need to see the actual report to see if they are bait and switching already committed dollars to the Nordic Center, Sliding center and Oval and saying those are a result of the Olympic Bid or if they are new dollars. Or if they are saying that the field house will be built first and only an Ice plant added like they were in the 4.6 billion bid.

No Games
--------------
300 million for a New Arena (Flames pay half)
200 million for a field house
200 million -- Brand New Stadium for the Stamps
---------------
700 million dollars

Why do we want to host the games?????

[getbak]

Originally Posted by Incogneto

HOW DO PEOPLE NOT UNDERSTAND THAT THIS INCLUDES THE ARENA WHEN YOU LOOK CLOSELY?!?!?!?!

See post #74 : https://forum.calgarypuck.com/showpo...3&postcount=74

You don't even have to read between the lines, it was stated outright during the Council Q&A.

https://twitter.com/user/status/1039612202888699904


If they take the money allocated for the mid-sized arena, you make up the ~$90 million difference between the City and CSEC and you probably have money left over.

[The Boy Wonder]

Originally Posted by Aleks

You're misreading. That's a medium venue, something for figure skating more than likely. 5000 seats is only 1000 more than the Winsport A. This has nothing to do with an NHL rink

Winsport A arena doesn't seat 4000... maybe if you take out the ice and have only a boxing ring in there.

[Senator Clay Davis]

Originally Posted by GGG

We need to see the actual report to see if they are bait and switching already committed dollars to the Nordic Center, Sliding center and Oval and saying those are a result of the Olympic Bid or if they are new dollars. Or if they are saying that the field house will be built first and only an Ice plant added like they were in the 4.6 billion bid.

No Games
--------------
300 million for a New Arena (Flames pay half)
200 million for a field house
200 million -- Brand New Stadium for the Stamps
---------------
700 million dollars

Why do we want to host the games?????

Nenshi seems determined to destroy his legacy for some reason.

[Icon]

No arena...

I'm out.

[GGG]

Originally Posted by Bunk

Indeed. It'll be something like $550m-$600m. And that allocation will likely be on a lot of the stuff like the field house and housing that we'd likely want to do anyway here locally.

A "matching" by the feds of the mun/prov portion points to a roughly $500m/$1b/$1.5b split. A good deal for us locally to have that cost spread out over a lot more taxpayers in Alberta and more importantly, Canada.

I think you can make the argument the federal dollars are new money that we wouldn't have if not for the Olympics however the provincial dollars I think are money that if spent on Olympics will not be spent elsewhere. So Calgarians would be spending 1.5 billion on the Olympics.

It's also incredibly myopic to pretend that the federal dollars spent on us instead of them is a good thing for Canada. Regardless of where the dollars are spent they should be put to good use. And paying more for infrastructure than the infrastructure is worth is not a good use of tax dollars.

[Aleks]

Originally Posted by The Boy Wonder

Winsport A arena doesn't seat 4000... maybe if you take out the ice and have only a boxing ring in there.

You're correct, its 3000 with ice, like 3700 without

[The Boy Wonder]

Nm

[CorsiHockeyLeague]

There's a souvenir shop in downtown. It's on 8th ave right around Lammle's. I'm sure there are more but that one's pretty obvious. And having seen what they sell, I'm not totally clear on why you think there should be more of them.

[GordonBlue]

Originally Posted by JBR

Read the report again. It is not costing the city $3B

do you honestly think it will be on budget?
has an Olympics EVER been on budget, let alone a discount model?

when it is over, who covers the costs? sure as heck won't be the IOC.


for security, I can see it being 2B.
factor inflation from 2010 or now to 2026.
agreed that the area to be covered is lesser, and way different challenges.

but the world isn't safer, and you can't say it will be cheaper because there isn't Afganistan. the world is a very insecure place now and while there isn't a war, there sure as heck is a lot of loner terrorist attacks that Calgary would have to be aware of an try to prevent, on top of the usual.

[Incogneto]

Originally Posted by GGG

We need to see the actual report to see if they are bait and switching already committed dollars to the Nordic Center, Sliding center and Oval and saying those are a result of the Olympic Bid or if they are new dollars. Or if they are saying that the field house will be built first and only an Ice plant added like they were in the 4.6 billion bid.

No Games
--------------
300 million for a New Arena (Flames pay half)
200 million for a field house
200 million -- Brand New Stadium for the Stamps
---------------
700 million dollars

Why do we want to host the games?????

So you're saying we are getting a two week party for free? Sign me up!

[Yoho]

Originally Posted by GGG

I think you can make the argument the federal dollars are new money that we wouldn't have if not for the Olympics however the provincial dollars I think are money that if spent on Olympics will not be spent elsewhere. So Calgarians would be spending 1.5 billion on the Olympics.

It's also incredibly myopic to pretend that the federal dollars spent on us instead of them is a good thing for Canada. Regardless of where the dollars are spent they should be put to good use. And paying more for infrastructure than the infrastructure is worth is not a good use of tax dollars.

I have no problem with a little Federal funding to help our myopic disorders.

[GGG]

Originally Posted by Incogneto

So you're saying we are getting a two week party for free? Sign me up!

No, we pay 1.5 billion for 700 million in infrastructure plus waste 1.5 billion in federal dollars that could be better spent on other things. Plus we incur risk as this estimate is probably a -10/+30 estimate so put another 2 billion in risk money on the table.

So best case 1.5 billion for 700 million in infrastructure and a 2 week party. Worst case 5 billion for 500 million in infrastructure for a 2 week party.

[JBR]

Originally Posted by GordonBlue

do you honestly think it will be on budget?
has an Olympics EVER been on budget, let alone a discount model?

when it is over, who covers the costs? sure as heck won't be the IOC.


for security, I can see it being 2B.
factor inflation from 2010 or now to 2026.
agreed that the area to be covered is lesser, and way different challenges.

but the world isn't safer, and you can't say it will be cheaper because there isn't Afganistan. the world is a very insecure place now and while there isn't a war, there sure as heck is a lot of loner terrorist attacks that Calgary would have to be aware of an try to prevent, on top of the usual.

To be clear, you are basing your YES/NO decision on your guess that the City's estimated $500-750M investment in the games will blow up to $3B?

On top of this, BIDCO estimates that 80-90% of the capital budget will be spent anyway just to keep existing facilities operating, Olympics or not. Let's say this is $600M already spent. A commitment of $150M buys you a couple of billion more from both levels of government and all other perks associated with the bid (yes, including a new arena).

[Bunk]

Originally Posted by GordonBlue

do you honestly think it will be on budget?
has an Olympics EVER been on budget, let alone a discount model?

when it is over, who covers the costs? sure as heck won't be the IOC.


for security, I can see it being 2B.
factor inflation from 2010 or now to 2026.
agreed that the area to be covered is lesser, and way different challenges.

but the world isn't safer, and you can't say it will be cheaper because there isn't Afganistan. the world is a very insecure place now and while there isn't a war, there sure as heck is a lot of loner terrorist attacks that Calgary would have to be aware of an try to prevent, on top of the usual.

It is a simpler task than Vancouver because you don't have ports to protect. Nonetheless, in the bid exploration they said costs can best be controlled by tightly clustering the venues. You can see that reflected in the venue plan. It's not that hard to secure something like Nakiska, Foothills Athletic Park and Stampede Park given you can isolate them from the surrounding fabric of the city, create controlled entry points quite easily.

[Enoch Root]

Originally Posted by GGG

No, we pay 1.5 billion for 700 million in infrastructure plus waste 1.5 billion in federal dollars that could be better spent on other things. Plus we incur risk as this estimate is probably a -10/+30 estimate so put another 2 billion in risk money on the table.

So best case 1.5 billion for 700 million in infrastructure and a 2 week party. Worst case 5 billion for 500 million in infrastructure for a 2 week party.

With no real legacy from those federal dollars.

And once Calgary gets those federal dollars (and wastes them upgrading McMahon), you can rest assured there won't be any more federal dollars rolling this way any time soon.

[Enoch Root]

Originally Posted by Bunk

I would bet the arena deal will get done, and it'll just become part of the games, should we host.

Would you bet $5B on it?

[Enoch Root]

Originally Posted by getbak

You don't even have to read between the lines, it was stated outright during the Council Q&A.

https://twitter.com/user/status/1039612202888699904


If they take the money allocated for the mid-sized arena, you make up the ~$90 million difference between the City and CSEC and you probably have money left over.

So Nenshi is throwing out a half-baked $5B Olympic bid, and hoping that CSEC will join in, after criticizing CSEC that CalgaryNext was half baked.

With the amount of money the city would be spending on the Olympics (with this ridiculous proposal), we could get a new arena and a new stadium.

What a #### show.