Ottawa, B.C. promise $110 million to cover soaring Vancouver Olympic costs: Knowledge Driven Revolution

Prime Minister Stephen Harper said Wednesday his minority Conservative government has joined the Vancouver-Whistler 2010 Olympic team with a $55-million top-up to the Winter Games' construction budget.

With a matching contribution from B.C. Premier Gordon Campbell, the money is supposed eliminate a shortfall in the Games' capital budget due to soaring construction costs in the province's red-hot economy. But while the Tories are on the team, Harper warned that Games organizers could not expect any more capital funding from Ottawa.

"We have a clear agreement that we are not liable for any further cost overruns," he said.

Vancouver entrepreneur Jack Poole, who led the successful bid for the Games and now chairs the organizing committee known locally as VANOC, promised it won't be putting the touch on taxpayers again.

"Our board has approved a final budget and we have no intention of going back," Poole said in an interview.

"We're confident that there's more than enough money there to complete the venues. We're as confident as we can be."

As Harper pointed out, the federal government was committed to helping stage the Games from the beginning.

But the original $470-million capital budget for building venues ballooned to $580 million out of an overall budget of $2 billion.

The committee approached the then-Liberal government after identifying the cost escalation in a February 2005 review. But there was no commitment from Ottawa before the Tories swept into power last January.

Harper said the new government decided to help cover the shortfall after doing its own "due diligence."

"There have been cost overruns due to factors beyond the organizing committee's control," he said. "But I think we've been clear with the premier and others that this is the last contribution that we'll be making federally."

The provincial contribution was contingent on Ottawa stepping up.

Campbell, who joined Harper at the announcement, called the 2010 Games a unifying force in Canada.

"This $55-million additional commitment - I want to underline that, additional commitment - allows us to truly lead, to truly set an example to the world," he said.

Poole told an audience that included Olympic medal winners that the funding was good news for athletes because it ensures some venues will be finished well ahead of schedule.

"We can now guarantee them home-field advantage, training and competing on these venues two years before the Games in February of 2010," he said.

Critics have assailed the organizing committee and the B.C. government's approach to Games funding, alleging they're trying to hide the true cost to taxpayers.

"There were some words that I was expecting to accompany this announcement - words such as accountability, openness and transparency," said B.C. MLA Harry Bains, the NDP's Olympics critic. "That has been lacking for 3 1/2 years."

Despite assurances that costs are being contained, hundreds of millions in cost overruns are being kept off the Olympic books by accounting for them in other ministries or downloading them to municipalities, Bains claimed.

Critics have pointed to expansion of venues at the University of British Columbia and the speed-skating oval in suburban Richmond, whose cost has tripled to nearly $178 million because of city-ordered design changes.

The Vancouver organizing committee predicted earlier this year that Games venues would be completed within the revised budget, including a healthy contingency fund.

"It's well over $60 million and there's only $200,000 worth of work to contract, so we're sleeping well at night," said Poole.

Cost-cutting efforts helped limit budget inflation from the 2002 Olympic bid amount to 23 per cent, a VANOC report concluded.

VANOC cut another $20 million this month when a Paralympic sledge hockey arena slated for Whistler, whose overall cost had mushroomed to $60 million, was cancelled by the resort town's council.

As compensation, the town will get $3 million to stage celebrations during the Games for a net saving of $17 million, said Poole.

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HOME V for Vendetta - R for Reality Canadian Bird Flu Pandemic Looming ? Shill of the Week: Stephan Harper Aspartame: The Sweetest Killer Chicken Little Terrorist of the Week: Creating Fake Terrorists Shill of the Week: Paul Martin The Number 1 Reason YOU became a Slave	Ottawa, B.C. promise $110 million to cover soaring Vancouver Olympic costs STEVE MERTL - CP September 01, 2006 Prime Minister Stephen Harper said Wednesday his minority Conservative government has joined the Vancouver-Whistler 2010 Olympic team with a $55-million top-up to the Winter Games' construction budget. With a matching contribution from B.C. Premier Gordon Campbell, the money is supposed eliminate a shortfall in the Games' capital budget due to soaring construction costs in the province's red-hot economy. But while the Tories are on the team, Harper warned that Games organizers could not expect any more capital funding from Ottawa. "We have a clear agreement that we are not liable for any further cost overruns," he said. Vancouver entrepreneur Jack Poole, who led the successful bid for the Games and now chairs the organizing committee known locally as VANOC, promised it won't be putting the touch on taxpayers again. "Our board has approved a final budget and we have no intention of going back," Poole said in an interview. "We're confident that there's more than enough money there to complete the venues. We're as confident as we can be." As Harper pointed out, the federal government was committed to helping stage the Games from the beginning. But the original $470-million capital budget for building venues ballooned to $580 million out of an overall budget of $2 billion. The committee approached the then-Liberal government after identifying the cost escalation in a February 2005 review. But there was no commitment from Ottawa before the Tories swept into power last January. Harper said the new government decided to help cover the shortfall after doing its own "due diligence." "There have been cost overruns due to factors beyond the organizing committee's control," he said. "But I think we've been clear with the premier and others that this is the last contribution that we'll be making federally." The provincial contribution was contingent on Ottawa stepping up. Campbell, who joined Harper at the announcement, called the 2010 Games a unifying force in Canada. "This $55-million additional commitment - I want to underline that, additional commitment - allows us to truly lead, to truly set an example to the world," he said. Poole told an audience that included Olympic medal winners that the funding was good news for athletes because it ensures some venues will be finished well ahead of schedule. "We can now guarantee them home-field advantage, training and competing on these venues two years before the Games in February of 2010," he said. Critics have assailed the organizing committee and the B.C. government's approach to Games funding, alleging they're trying to hide the true cost to taxpayers. "There were some words that I was expecting to accompany this announcement - words such as accountability, openness and transparency," said B.C. MLA Harry Bains, the NDP's Olympics critic. "That has been lacking for 3 1/2 years." Despite assurances that costs are being contained, hundreds of millions in cost overruns are being kept off the Olympic books by accounting for them in other ministries or downloading them to municipalities, Bains claimed. Critics have pointed to expansion of venues at the University of British Columbia and the speed-skating oval in suburban Richmond, whose cost has tripled to nearly $178 million because of city-ordered design changes. The Vancouver organizing committee predicted earlier this year that Games venues would be completed within the revised budget, including a healthy contingency fund. "It's well over $60 million and there's only $200,000 worth of work to contract, so we're sleeping well at night," said Poole. Cost-cutting efforts helped limit budget inflation from the 2002 Olympic bid amount to 23 per cent, a VANOC report concluded. VANOC cut another $20 million this month when a Paralympic sledge hockey arena slated for Whistler, whose overall cost had mushroomed to $60 million, was cancelled by the resort town's council. As compensation, the town will get $3 million to stage celebrations during the Games for a net saving of $17 million, said Poole. Read the full article here Broken Link? If the link to the original article is broken or has been altered you can view the article by clicking here. About KDR \| \| Home \| \| Weekly Features Archive	Weekly Features Archive
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