Olympics price tag could sky­rocket

Calgary Herald - - EDITORIAL -

Re: $5.2B Olympic blue­print un­veiled, Sept. 12 Colum­nist Li­cia Cor­bella has done it again. She has been taken in by the mayor’s smoke and mir­rors, men­tion­ing his back­ground to give more re­spectabil­ity to his ut­ter­ances and not se­ri­ously ques­tion­ing or ex­am­in­ing the num­bers. The city will spend a min­i­mum of $500 mil­lion in 2017 dol­lars — $300 mil­lion for a field house plus $200 mil­lion to make up the city’s share of the $3-bil­lion dif­fer­ence be­tween the es­ti­mated to­tal cost and es­ti­mated rev­enue. Nen­shi noted they are look­ing for fund­ing sources for the field house which is part of the Olympic bud­get. So this money will come from city taxes.

There is no guar­an­tee that the fed­eral gov­ern­ment will con­trib­ute 50 per cent of the cost and I saw an ar­ti­cle that said the fed­eral gov­ern­ment is look­ing at con­tribut­ing a max­i­mum of $1.5 bil­lion. The sub­mit­ted re­port shows that the cost by 2026 will be $3.495 bil­lion. So who pays for this ex­tra $495 mil­lion? The city nat­u­rally.

Hugh Pow­ell, Cal­gary

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