HomeMy WebLinkAbout2015-11-24 - AGENDA REPORTS - LA TO HOST 2024 SUMMER OLYMPIC (2)0
Agenda Item: 5
CITY OF SANTA CLARITA
Q) AGENDA REPORT
CONSENT CALENDAR
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CITY MANAGER APPROVAL: 1 j=�
DATE:
November 24, 2015
SUBJECT:
LETTER OF SUPPORT FOR LOS ANGELES TO HOST 2024
SUMMER OLYMPICS
DEPARTMENT:
City Manager's Office
PRESENTER:
Jerrid McKenna
RECOMMENDED ACTION
City Council send a letter to the LA2024 Bid Committee and City of Los Angeles Mayor Eric
Garcetti supporting the City of Los Angeles' bid to host the 2024 Summer Olympics.
BACKGROUND
On July 27, 2015, the United State Olympic Committee withdrew its nomination of Boston,
Massachusetts as a host city for the 2024 Summer Olympics due to financial liability concerns.
Therefore, on September 1, 2015, the Los Angeles City Council unanimously voted for Mayor
Eric Garcetti to execute agreements for the 2024 Olympic bid. Following the City Council vote,
the United States Olympic Committee (USOC) announced its official selection of Los Angeles
as the United States candidate. At the October 14, 2015 meeting of the Mayors of Los Angeles
County, Los Angeles Mayor Eric Garcetti gave a presentation related to this bid. Given the
regional impact of the Olympics, Mayor Garcetti requested support for the Los Angeles 2024
Olympic bid.
The five candidate cities were announced by the International Olympic Committee (IOC) on
September 16, 2015:
• Los Angeles, United States
• Rome, Italy
• Hamburg, Germany
• Paris, France
• Budapest, Hungary
As a previous host in both 1932 and 1984, Los Angeles generated an unprecedented profit of
$232.5 million from the 1984 Olympic Games. The LA84 Foundation, the philanthropic legacy
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organization from 1984, has introduced more than 3 million children to Olympic and Paralympic
sports over the last 30 years, trained 75,000 coaches and invested $225 million in 2,200
community-based youth sports programs.
Budget
Los Angeles is committed to hosting a fiscally responsible, sustainable, and profitable Games
that include multiple protections against any potential cost overruns. This includes a realistic
and conservative Games budget that leverages the abundance of existing venues available in Los
Angeles and conservative estimates for expenses and revenues. Eighty-five percent of the venues
in the proposed plan exist today. Los Angeles' budget projects a net position of $161 million,
which includes a budgeted $150 million to purchase a substantial insurance package to protect
the City against unexpected liabilities.
Santa Clarita regularly hosts some of the world's best athletes at events like the Santa Clarita
Marathon, Amgen Tour of California and the Wings for Life World Run. In this regard, the City
of Santa Clarita shares the same vision as the City of Los Angeles recognizing the value large-
scale sporting events bring with global visibility, revenue to local businesses and significant
positive impacts to our local economy.
Support of the City of Los Angeles' bid does not in any way financially obligate the City of
Santa Clarita regarding the Olympics. At this juncture, supporting the Olympic bid demonstrates
regional solidarity and expresses a willingness to partner, should that be appropriate in the future.
Timeline
The bid process officially started on September 15, 2015- the deadline for the USOC and other
National Olympic Committees to confirm their intention to bid for the 2024 Olympic and
Paralympic Games.
The bid process will culminate at the IOC General Assembly in Lima, Peru in September 2017.
At that assembly, the IOC Members will vote on and announce the 2024 Olympic and
Paralympic Games Host City.
Should Los Angeles be awarded the 2024 Olympic and Paralympic Games, the Olympic Games
will be held over a two week period in the months of July and August. The Paralympic Games
would begin 10 days after the Olympic Games Closing Ceremony.
ALTERNATIVE ACTION
Other action as determined by the City Council.
FISCAL IMPACT
None by this action.
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