The estimate released Tuesday comes about a month after the U.S. Olympic Committee cut ties with Boston, which was initially selected as the U.S. contender for the games.
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Boston’s bid foundered for good after the city’s mayor and the governor of Massachusetts both declined to give their full support because of fears the Games would leave taxpayers with debt.
The USOC will have to nominate Los Angeles as its bid city for the 2024 Games by September 15, the IOC deadline for potential candidates, if it is to move forward.
Should Los Angeles decide to bid for the 2024 Games, its competitors would be Paris, Rome, Hamburg and Budapest.
Los Angeles organizers are projecting a $161 million surplus for a 2024 Los Angeles Olympics, though some analysts say that figure may be overly optimistic.
The Los Angeles plan tasks spending $four.
Los Angeles Mayor Eric Garcetti has already guaranteed that he will sign the controversial Host City contract which his counterpart in Boston, Marty Walsh, refused to do – leading to the collapse of that city’s bid. “We can not let our excitement trump our responsibility to the taxpayers and must ensure all documents have been thoroughly vetted by the newly-created Ad Hoc Committee on the 2024 Olympics”. Russian Federation has been scuffling with prices from the 2014 Sochi Olympics, which have been referred to as the costliest Olympics of all time.
The L.A. Coliseum will serve as the Olympic Stadium and will undergo a $800 million renovation, of which University of Southern California will contribute $500 million as part of its planned renovation.
“In Los Angeles, the highlight is all the time on”. Boston’s was projected at $4.5 billion.
The Los Angeles proposal envisions occasions happening at places showcasing the most effective of the world.
Santa Monica, the area where the venue would be located, is synonymous with the sport as it played host to numerous early skateboarding competitions in the 1970s.
The Hollywood Cluster includes the use of Hollywood Boulevard for the marathon, race walking and road cycling; Griffith Park for BMX and mountain biking events and Wilson Golf Course for golf.
In addition the $1 billion Olympic Village will be built on the Piggyback Yard site along the L.A. River with a $925 million private investment and be converted to affordable and market-rate housing after the Olympics.
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Security costs would be picked up by the federal government, according to organizers. Union Pacific’s largest shareholder is billionaire Philip Anschutz, whose Anschutz Entertainment Group owns the NHL’s Los Angeles Kings and the downtown Staples Center.
