Cost Concerns Linger Over Chicago's Olympic Bid

Organizers claim city money won't be needed as Chicago edges closer to securing the 2016 Summer Olympics, but locals are wary about the costs that could fall on them. The recession is exacerbating concerns.

1 minute read

July 28, 2009, 6:00 AM PDT

By Nate Berg

Costs associated with the event are estimated at $3.3 billion. Private investors have so far raised $60 million, and more could be expected if the city is chosen as host this October.

"Polls here suggest broad support for bringing the Olympic Games to the city. But increasingly, the economic downturn is taking a central role in the local debate over the bid as more residents raise concerns that Chicago taxpayers, already struggling, could be left paying the bills despite assertions from organizers that no city dollars will be needed."

FULL STORY: Recession Shadowing Chicago Bid for Games

Monday, July 27, 2009 in The New York Times

Community / Economic Development Infrastructure Urban Development Illinois Chicago Investment Olympics Recession 2016 Olympics View More

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