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Washington, DC suburbs in Maryland Calvert County, Charles County, Montgomery County, and Prince George's County
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Old 08-07-2012, 03:47 PM
 
Location: Fort Worth, TX
9,394 posts, read 15,720,585 times
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Quote:
Originally Posted by adelphi_sky View Post
I do recall Greece having some financial issues when they hosted the olympics.
Saying they had "financial issues" is akin to saying Iraq had "violence issues" in 2007.
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Old 08-07-2012, 07:42 PM
 
Location: Salisbury, MD
575 posts, read 556,355 times
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Greece, like Montreal, underestimated the costs of hosting the Olympics and they've had some trouble funding and maintaining the Olympic facilities in the recent years.

Most of them re still owned and used by the government though, a few football clubs rented or have bought some of the facilities.
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Old 08-08-2012, 06:48 AM
 
Location: The DMV
6,598 posts, read 11,338,509 times
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Quote:
Originally Posted by cry_havoc View Post
Private interes doesn't build infrastructure. It is almost always public.

Could work if there was a big infrastructure upgrade, and this would benefit the area in the long run
However, I doubt the funding is there and that they could build it on time.
No argument there. But it can still be funded via sponsorships or long term contracts (i.e. for companies to setup shop in the area) as opposed to coming directly from the tax payers.

My concern is that we end up like vancouver where the cost was 10x the estimate, and next thing you know, we're now paying 10% sales tax and 5% property tax to offset the debt.

Quote:
Originally Posted by adelphi_sky View Post
If you look at the figures, the funding is always there. I don't think I've every known a city to turn down a bid for a lack of funds. At worst, bonds would be issued. They would have no problem paying back the investors because the olympics usually brings in billions as noted in the article. There always seems to be a way. Like I said, if Atlanta can get it done, I'm sure the capital of the free world could get it done.
did some quick Googling... so excuse the inaccuracies.

Yea - it'll bring in billions - but it'll cost tens of billions to set it up. The scary part of that article is that it states the event would have cost 2 billion, yet London spent ~20 billion (4x the original estimate). Not saying that we would incur the exact cost, but I doubt it would be 10% of what was actually spent in London.

Since LA, I believe Salt Lake City was the only ones that actually made money (depending on what resources you read... other say they still came out in the red). Albertville lost its shirt, Nagano went into recession, and Athens...well, nuff said. Even Sydney was a bust. Places like Barcelona, Turin lost money (Turin almost went bankrupt due to cost overruns) but they still considered a succes due to the showcasing factor. Not sure DC needs to showcase itself being already one of the most visited places in the world. A number of reports are even saying that London isn't exactly coming out on top thus far income wise.

In all, I would love to have the event here. Realistically, I'm not sure that can be pulled off. Especially with the cost of hosting an Olympic event these days - London's cost was around $20 billion. Atlanta and Salt Lake City was less than 5 Billion? China's was an astronomical 40 billion; but I'd throw that out as an exception. So with that, I'd think an Olympic here in DC in 2024 will be what... $30-$35 Billion?

Also - one of the reasons Albertville didn't work out was due to local areas jockeying for venues. This became a logistical issue during the events. I see the same potential issue here.. with MD/DC/VA and its surrounding cities/counties that would want a piece of the action.
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Old 08-08-2012, 08:06 AM
 
544 posts, read 1,049,844 times
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Quote:
Originally Posted by macroy View Post
MD/DC/VA and its surrounding cities/counties that would want a piece of the action.
Good point - these three municipalities can't even agree on how to fund one of the largest transportation systems in the country. There's no way they'd be able to cooperate on a project as large as hosting the Olympics.
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Old 08-08-2012, 08:15 AM
 
6,347 posts, read 9,902,389 times
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The long run effects of the infrastructure improvements might yield a long term benefit.
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Old 08-08-2012, 08:18 AM
 
Location: On the Chesapeake
45,577 posts, read 60,936,044 times
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Quote:
Originally Posted by cry_havoc View Post
The long run effects of the infrastructure improvements might yield a long term benefit.

How long did the ICC take? Closer to my home, the Thomas Johnson Bridge between Calvert and St. Mary's Counties is on the priority list for enhancement/replacement. Estimated start date? 2032.
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Old 08-08-2012, 10:41 AM
 
Location: Salisbury, MD
575 posts, read 556,355 times
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Quote:
Originally Posted by North Beach Person View Post
How long did the ICC take? Closer to my home, the Thomas Johnson Bridge between Calvert and St. Mary's Counties is on the priority list for enhancement/replacement. Estimated start date? 2032.
That's just sad.
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Old 08-08-2012, 11:51 AM
 
6,347 posts, read 9,902,389 times
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Quote:
Originally Posted by North Beach Person View Post
How long did the ICC take? Closer to my home, the Thomas Johnson Bridge between Calvert and St. Mary's Counties is on the priority list for enhancement/replacement. Estimated start date? 2032.
That is the problem I mentioned.

Funding is not there, these things always go overbudget, take forever to build, and never get built on time.
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Old 08-08-2012, 05:20 PM
 
1,624 posts, read 4,876,995 times
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Quote:
Originally Posted by macroy View Post
In all, I would love to have the event here. Realistically, I'm not sure that can be pulled off. Especially with the cost of hosting an Olympic event these days - London's cost was around $20 billion. Atlanta and Salt Lake City was less than 5 Billion? China's was an astronomical 40 billion; but I'd throw that out as an exception. So with that, I'd think an Olympic here in DC in 2024 will be what... $30-$35 Billion?
The OP's post that it would cost $2 Billion for DC/Balt to host the Olympics in 2012 is such a joke. In 2004, Athens spent more than that just on security.
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Old 08-08-2012, 05:31 PM
 
Location: DMV
10,125 posts, read 14,021,427 times
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Quote:
Originally Posted by reiflame View Post
Good point - these three municipalities can't even agree on how to fund one of the largest transportation systems in the country. There's no way they'd be able to cooperate on a project as large as hosting the Olympics.
What would VA's role be in this? They will certainly benefit from people possibly staying in VA to go to the Olympics, but from a logistics stand point, the very reason you brought up is the reason why they should keep VA out of it. They would never agree. On top of that, you also have to consider that Baltimore itself is a independent city so you would have to deal with the mayor there as well. Way too complicated if you ask me. Doesn't sound realistic, especially considering how greedy people can be.
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