LOS ANGELES—On Tuesday, January 25, the Los Angeles City Council voted unanimously to grant final approval for LA 2024 and allow the city to sign the Host City Contract with the International Olympics Committee for the 2024 Olympic and Paralympic Games.
According to a press release sent to Canyon News, the council meeting was attended by LA 2024 Chairman Casey Wasserman and CEO Gene Sykes. They were joined by over 50 Olympians and Paralympians from seven nations, including US IOC Executive Board Members Anita DeFrantz and Angela Ruggiero, as well as Janet Evans, Candace Cable, Michael Johnson and Apolo Ohno.
“On behalf of the City Council, we are comfortable with the level of protection LA 2024 has built into its plans, and today’s unanimous vote reflects that,” said Los Angeles City Council President Herb Wesson. “More importantly, our commitment reflects that reflects the desire of an overwhelming majority of Angelenos to share our diverse and energetic city with the world.”
“The City Council’s decision legally empowers the City and the US Olympic Committee to accept without restriction the right and responsibility to host the Games if Los Angeles is elected by OIC members on September 13 in Lima, Peru,” the press release stated. “As part of its final submission to the IOC on February 3, LA 2024 will provide a full set of guarantee against any budget shortfall that fully complies with the IOC’s requirements.”
Since LA 2024 does not have to build permanent venues and development projects for the Games, such as the Olympic Village, they were able to develop a sustainable and balanced Games plan. The plan includes a budget of $5.3 billion of revenue and with a cost of $4.8 billion, as well as a $488 million contingency.
“LA 2024 has worked hand-in-hand with our partners at City Hall and the USOC to create a plan that is perfectly tailored to the aspirations of the New LA,” said Wasserman.
“LA 2024’s fiscally responsible, ‘no surprises’ Games Plan aligns with the IOC’s Olympic Agenda 2020 reforms and has the potential to serve the Olympic Movement long after 2024. The City Council unanimous backing is a strong vote of confidence and a historic milestone in our journey to bring the Games back to the City of Angels after 40 years,” Wasserman added.
“The IOC’s Host City Contract is our promise that Los Angeles is ready to host an outstanding and fiscally responsible Olympic and Paralympic Games,” said Los Angeles Mayor Eric Garcetti. “If LA is selected as the 2024 Host City, our low-risk, high-tech and sustainable Games will inspire the next generation to grow the Olympic Movement and provide social and economic benefits for our communities.”
For more information, visit LA24.org.