The City of Vancouver says it spent an estimated $554.3 million to host the 2010 Olympic and Paralympic Winter Games.
According to a staff report posted today (April 15) on its Web site, the city incurred $524 million in capital costs and $30.3 million in operational costs related to the Games.
The total cost of Vancouver’s “direct support” for the Games was actually $729.2 million, with $174.9 million coming from the provincial and federal governments, and Olympic sponsors.
The report says the capital costs paid by the city included $299.8 million for civic facilities at the Olympic Village, $120.9 million for non-competition infrastructure, $73.8 million for Olympic competition venues, $26.2 million for the Neighbourhood Energy Utility district-heating system at Southeast False Creek, and $3.2 million for preparing civic facilities.
The operational costs included $22.5 million for Olympic legacy and other initiatives, $5.9 million for dedicated Olympic operations, and $1.9 million for operational support during the Games.
“The capital funding has been dedicated to build new infrastructure and civic facilities or to upgrade our existing capital assets, providing a sustainable legacy for the citizens of Vancouver,” city manager Penny Ballem states in the report. “As well, within the programs funded through the Olympic Legacy Reserve, a number of additional legacies remain such as public art, decorative street lighting, and our digitized Olympic archives.”
Not included in the $554.3-million figure is the city’s $969-million loan to Millennium Development Corporation, the developer of the Olympic Village.
The total figure also omits the $21.3 million spent by the city over five years on planning for the Olympics—mostly related to transportation and security. According to the report, “most of the planning effort was provided through the redeployed of staff and was not an incremental cost to the City”. It says the net cost to the city for Olympic planning was about $14.2 million, because the Vancouver 2010 Integrated Security Unit has reimbursed it for the “majority” of planning costs related to security.
In addition, at an estimated cost of $2.5 million, 485 employees worked as part of the Host City Team during the Olympics, with duties related to the torch relays, live sites, and other programs.
City council is scheduled to receive the report, dated March 31, at its meeting on Tuesday (April 20).
The report calls itself the “first to compile the total costs associated with the 2010 Winter Games”.
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