Pan Am budget slashed by $300M, says T.O. bid committee official
The Toronto 2015 Pan Am Games bid committee says the Ontario government has cut the budget for the Games proposal by $300 million.
In anticipation of winning the Games, organizers proposed a budget of about $1.8 billion, with most of the money going toward construction of new pools, stadia and an athletes village, should the Golden Horseshoe region win the bid to host the Games.
The rest would be spent on staging the Games and looking after the 10,000 athletes.
But organizers are being sent back to the drawing board, because the province has told them to cut their budget by $300 million, or roughly 17 per cent, a senior official with the bid committee told CBC News.
According to the official, the cut wouldn't have a dramatic impact, but it could mean some municipalities won't get the same level of economic spinoff they might have been hoping for from construction of new facilities.
The Games bid committee is expected to release information later this month listing where the hundreds of millions of dollars for new athletic and housing facilities would be spent if the bid is successful.
Toronto is expected to be in line for the $1 billion athlete's village.
As many as four new swimming pools would be built, along with other facilities to accommodate track and field and other sports. The venues would be spread across the Golden Horseshoe, from Niagara to Durham.
But instead of a number of permanent new pools, for example, a couple of the pools that could be constructed specifically for the Games might be temporary.
The highly anticipated new velodrome, instead of being a permanent structure, could be torn down once the Games were over.
Given the economic crisis that has gripped most of the world, the official said, a reduction in the budget is not surprising.
The final bids are due to be submitted to the Pan Am organizing committee by April.
The final decision on which city will get the 2015 Games is due this fall.
The Golden Horseshoe bid is up against three South American cities: Bogota, Colombia; Caracas, Venezuela; and Lima, Peru.
If the Ontario bid is successful, construction could start in the spring of 2010.
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