Calgary council votes to set up Olympic bid corporation if province and feds help pay for it
Bid committee estimates cost of hosting 2026 Games would be $4.6B
Calgary's Olympic aspirations were kept alive Tuesday night ascouncil voted to continue the bid process for the 2026 Games, with the next steps contingent upon the city receiving funding from the provincial and federal levels of government.
Should the city receive money from the other orders of government, a bid corporation (BidCo)will be formed at a cost of about $30 million.
It will be comprised of members from thecity, the provincialandfederal governments, as well asthe Town of Canmore and the Canadian Paralympic Committee.
The city will also release an additional $1 million from the Fiscal Stability Reserve which was approved in November 2017.
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The motion passed Tuesday also calls fora "robust public engagement plan" to be presented to a council committeeApril 10,along with a proposed reporting structure from the BidCo to council.
The$30-million cost of the BidCowould be split three ways, with $10.5 million to come from Ottawa, $10 million from the province and $9.5 million from the city.
The city has already spent about$6 million on the process, MayorNaheedNenshitold reporters after the meeting Tuesday.
If the additional $1 million is released, another $2.5 million will be needed to cover Calgary's share.
Kyle Ripley, director of the city's bid committee, told council a final price tag for hosting the 2026 Olympics should be known in June. Initial estimates have pegged the cost around $4.6 billion.
Nenshi said he is "extraordinarily confident" the money will come from the province and feds, and a decision should come "soon-ish."
"We've had lots of conversations ... on this and I know there has been a lot of crossing of Ts and dotting of Is on what the agreement would look like, but I think with council's decision to move forward today, with that kind of commitment, that probably will get rid of any remaining barriers with the other governments," he said.
"But, of course, it's their decision."
Although the city announced plans to engage the public, Coun. JeromyFarkas, who voted against the motion, told theCalgary EyeopenerTuesday morning that he intends to ask for a plebiscite to gauge citizens' support for the Olympics.
The cost of a public plebiscite vote has been estimated at about $2 million, but he said he expected that to be lower.
"If the concern is cost, I think it's absolutely warranted and democracy does have some costs involved with it," Farkas said. "But if it's the potential to actually save us $5- to 10-billion down the road, I think it's money well spent."
Farkassaid he's worried about how council is deciding to spend money exploring the bid without knowing whether citizens support hosting the Games at all.
Voting in favour of Tuesday'smotion were:
- Mayor NaheedNenshi.
- Coun. Ward Sutherland.
- Coun. George Chahal.
- Coun. Jeff Davison.
- Coun. Gian-Carlo Carra.
- Coun. Ray Jones.
- Coun. Shane Keating.
- Coun. Diane Colley-Urquhart.
Voting against the motion were:
- Coun. Joe Magliocca.
- Coun. JyotiGondek
- Coun. Sean Chu.
- Coun. Druh Farrell.
- Coun. Jeromy Farkas.
- Coun. Peter Demong.
Coun. Evan Woolley was absent from Tuesday's meeting.
With files from Rachel Ward, Calgary Eyeopener
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