Should Calgary Bid on the 2026 Olympics - Page 53 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

FireFly · 10-12-2018, 03:11 PM

I wonder what happens when ALL the cities drop their bids. What does the IOC do at that point?

Senator Clay Davis · 10-12-2018, 03:13 PM

Provincial money is also subject to increased transparency and FOI access, which is what Sean Chu wanted back in July. Hopefully the increased transparency and FOI is retroactive to the beginning of the process.

Quote:

Originally Posted by FireFly

I wonder what happens when ALL the cities drop their bids. What does the IOC do at that point?

A lot of us really want to find out. IOC being the IOC, probably back to Sochi.

Tyler · 10-12-2018, 03:52 PM

Quote:

Originally Posted by zhulander

IOC Contribution (broadcast & TOP sponsors) $751
Other revenues (domestic sponsors, ticketing, merchandising, etc.) $1,404

IOC is only covering 750 mil, where are you seeing 1.2 billion for IOC contribution?

Your #'s are incorrect. The IOC committed $900M USD to our bid (~1.2B CDN)

craigwd · 10-12-2018, 03:57 PM

Quote:

Originally Posted by Senator Clay Davis

Lol at the IOC helping to make up the difference. Plus the current bid doesn't factor in the guaranteed 20% cost overrun, and now we know the city is on the hook for that. I get people's desperation for this thing, but it's looking like financial loser is the best case scenario to hosting, with total debacle absolutely in play.

The bid does factor in over $1B of contingency money.

JBR · 10-12-2018, 04:02 PM

Quote:

Originally Posted by OMG!WTF!

I'd rather build 3 arenas and buy two more NHL teams.

For $500-$800 million? Good luck with that.

J pold · 10-12-2018, 04:06 PM

Well my 'maybe' just became a very clear no.

Tyler · 10-12-2018, 04:09 PM

Call it a conspiracy theory, but I have a sneaking suspicion the Flames and City are going to come to an agreement for a new arena deal just weeks before the plebiscite to swing the yes vote.

Too much infrastructure dollars on the table for the city NOT to leverage a bid here.

If Calgarians go to the polls knowing that Olympics = New Arena deal, I can't help but see an overwhelming Yes come out of the plebiscite.

If it does happen, the Flames have been very smart and will have outwaited a city that thought they had the upper hand.

Senator Clay Davis · 10-12-2018, 04:18 PM

Quote:

Originally Posted by Tyler

Your #'s are incorrect. The IOC committed $900M USD to our bid (~1.2B CDN)

The total bid cost being presented right now is in USD.

Quote:

Originally Posted by craigwd

The bid does factor in over $1B of contingency money.

That contingency is part of the $5.3 billion bid. And since we know that will never be the final price, if it does end up at say $6.3 billion, it appears that the city, solo, will be on the hook for that extra $1 billion. The province made it clear today, the city bears all the risk here.

OMG!WTF! · 10-12-2018, 04:29 PM

Quote:

Originally Posted by JBR

For $500-$800 million? Good luck with that.

No. For the billion 5 it's going to cost us.

you&me · 10-12-2018, 04:31 PM

Quote:

Originally Posted by OMG!WTF!

No. For the billion 5 it's going to cost us.

But clearly the whole $5 Billion (or whatever) wouldn't otherwise be available to build multiple rinks and buy multiple teams...

OMG!WTF! · 10-12-2018, 04:33 PM

Quote:

Originally Posted by you&me

But clearly the whole $5 Billion (or whatever) wouldn't otherwise be available to build multiple rinks and buy multiple teams...

Sorry. The billion 500 million....1.5 billion. That'd be enough for a couple scrubby teams and some arenas. The Forrest Lawn Hackers could play in Chestermere maybe.

JBR · 10-12-2018, 04:39 PM

Quote:

Originally Posted by OMG!WTF!

Sorry. The billion 500 million....1.5 billion. That'd be enough for a couple scrubby teams and some arenas. The Forrest Lawn Hackers could play in Chestermere maybe.

And this is why I'm thankful (hopeful) that you have nothing to do with reading or working on budgets for public projects.

If the bid does not go forward, there would not be any of the "billion 500 million....1.5 billion" kajillion dollars coming to Calgary to finance your Hackers squad. Zilch. But the city will still fund the fieldhouse on the next budget cycle for $250-300m, and spend a little on maintaining some infrastructure.. but that's about it.

getbak · 10-12-2018, 04:42 PM

Quote:

Originally Posted by Senator Clay Davis

The total bid cost being presented right now is in USD.

No, it's not. The $5.2 billion total is Canadian funds.

OMG!WTF! · 10-12-2018, 04:52 PM

Quote:

Originally Posted by JBR

And this is why I'm thankful (hopeful) that you have nothing to do with reading or working on budgets for public projects.

If the bid does not go forward, there would not be any of the "billion 500 million....1.5 billion" kajillion dollars coming to Calgary to finance your Hackers squad. Zilch. But the city will still fund the fieldhouse on the next budget cycle for $250-300m, and spend a little on maintaining some infrastructure.. but that's about it.

Yep. Totally got that a while back. Don't worry. I don't even have a job much less budgetary responsibilities.

Jacks · 10-12-2018, 05:21 PM

Quote:

Originally Posted by JBR

But the city will still fund the fieldhouse on the next budget cycle for $250-300m, and spend a little on maintaining some infrastructure.. but that's about it.

That's what I would like to see. If the Olympic bid doesn't happen we'll still have to pay:
1) To build the fieldhouse
2) Public contribution to a new arena (it's going to happen at some point)
3) Upkeep and/or upgrades to existing facilities that are made over time
4) etc.

Take those costs off of what the city is paying into the games, since that money is getting spent anyway, then look at the number that is left. IMO this would be the true additional cost. Depending on what that number is we can make an informed opinion on whether that extra money is worth the additional development, low cost housing, tourism and whatever other benefits there are.

Not sure if anyone has ever done that excercise but I hope the city gives that sort of info before the vote.

GGG · 10-12-2018, 05:49 PM

Quote:

Originally Posted by craigwd

The bid does factor in over $1B of contingency money.

Does it have 1 billion in contingency though? My understanding was that the capital cost numbers had reasonable contingency in it something like 20%. But the revenue projections and operating costs did not.

GGG · 10-12-2018, 05:51 PM

Quote:

Originally Posted by Jacks

That's what I would like to see. If the Olympic bid doesn't happen we'll still have to pay:
1) To build the fieldhouse
2) Public contribution to a new arena (it's going to happen at some point)
3) Upkeep and/or upgrades to existing facilities that are made over time
4) etc.

Take those costs off of what the city is paying into the games, since that money is getting spent anyway, then look at the number that is left. IMO this would be the true additional cost. Depending on what that number is we can make an informed opinion on whether that extra money is worth the additional development, low cost housing, tourism and whatever other benefits there are.

Not sure if anyone has ever done that excercise but I hope the city gives that sort of info before the vote.

Well you can go through the first document they produced for the 4.3 billion dollar games and it has dollar values to be spent on each venue and decide if those venues add value. The mystery component in that is housing and how much low income housing does Calgary actually get left with. It’s very unclear in the bid package.

It’s also myopic to look at the federal and provincial portions as free money. Maybe the federal but the provincial money is coming out of future grants to calgaey

getbak · 10-12-2018, 06:11 PM

This was in the IOC feasibility study report regarding the housing, which is the most-detailed breakdown I've seen so far...

Lanny_McDonald · 10-12-2018, 06:22 PM

Seems Calgary has painted itself into a corner on this. Seems like the smart move is to vote this down and move on.

Jacks · 10-12-2018, 06:24 PM

I don't know what "rooms" means though when it comes to affordable housing, would they be turned into 2 or 3 bedroom family dwellings?
If we were left with 2000+ low income, student and senior housing units available that would be a huge benefit for the city. That is also again money that somewhat has to be spent anyway since it would surely reduce some of the needs for emergency shelters and other emergency services plus raise the quality of life for a lot of people in poverty which, long term, benefits us in multiple ways. The city needs to break down the additional dollars, that won't be spent anyway, and present that with the benefits we will see post games. I appreciate that a lot of this info can be found in various reports but I work 60+ hours a week and don't have the ambition to try and work it all out.