12-13-2016, 04:49 PM
Yesterday both Kitchener and Waterloo Council's voted unanimously to support progressing to phase 2 of the bidding process. Along with this decision is a commitment to each fund $1,000,000 to the Host Society in capital expenditures (total of $3,000,000 if Cambridge follows suit). They've also agreed to underwrite any financial deficit associated with the 2021 Games if the need arises... low ticket sales, etc.
The phase 2 submission deadline is January 31, 2017 with the successful bidder announced on March 31, 2017.
Expectations presented to both councils predict an economic impact of $100,000,000 for the Region. The Province and Federal governments will also together provide $14,700,000 to operate the games, and $6,000,000 in capital investment which will result in facility upgrades.
The phase 2 submission deadline is January 31, 2017 with the successful bidder announced on March 31, 2017.
Expectations presented to both councils predict an economic impact of $100,000,000 for the Region. The Province and Federal governments will also together provide $14,700,000 to operate the games, and $6,000,000 in capital investment which will result in facility upgrades.