Read it and weep, Frisco:
SB 1465, as amended, De León. Public contracts: 2024 Olympic Games and Paralympic Games. Existing law provides specified requirements in awarding certain public contracts. This bill would authorize the Governor to sign agreements with the International Olympic and Paralympic Committee, as part of the site selection process for the City of Los Angeles to become the host for the 2024 Olympic Games and Paralympic Games. This bill would make legislative findings and declarations that, among other things, the endorsing municipality, as defined, has developed a self-sufficient bid for financing the games. This bill would authorize the Governor to enter into an agreement for the state to be jointly liable, not to exceed a specified amount, with the Organizing Committee for the Olympic Games (OCOG), as specified, for obligations of the OCOG, and for any financial deficit relating to the games, as provided.
So basically, this means that the State of California will pay for part of the inevitable overages of a possible 2024 Los Angeles Olympics up to a total of a quarter billion dollars.
But if LA’s bid is “self-sufficient,” then why does LA or the corrupt International Olympic committee need any of our money at all, one wonders.
Hey, instead of paying for failure, why not tax it instead? So, of course Los Angeles “expects” to make billions, somehow, from LA2024, but in case it doesn’t, in case it starts to spend Precious Taxpayer Money garnered from The People of Los Angeles, then the govt of LA should pay a tax to the CA General Fund at, say, a 40% rate. So, fine, LA, spend an extra billion on your IOC party, but then, come 2025, you’ll owe CA a cool $400,000,000.
Wouldn’t that incentivize Los Angeles to be more honest about what it expects to make from LA 2024?
And man, we just went through this deal here in SF last year. I’ll tell you, SF came in third in the race to be the U.S nominee for the games of the 2024 Olympiad. (We beat DC, but DC never had a chance.) It looked like this:
Boston of course, said no way, Jose, we not going to enter into “joinder” with the IOC. And here comes LA, which is now considering putting itself on the hook for, potentially, billions.
I mean, if you’re worried about your teen getting drunk, again, and crashing the family car, again, why would you declare your teenager sober and then say, “Well, if you crash the car, I’ll give you a nice reward.” Would that make sense?
All our pols should oppose this Los Angeles bail out bill.
Oh hey, IRL, Paris will host the 2024 Olympics (in part because Paris doesn’t have no FBI, I’m srsly) so this bill doesn’t matter anyway.
And also, bay area officialdom doesn’t support the Olympics coming to SoCal in 2024, because that would kill ANY chance of SF / Bay Area hosting the now-coveted 2028 Olympics, I’m srsly. (But would SFGov et al actually come out to oppose this ridiculous spending bill? IDK. Perhaps they’ll oppose this bill, but in a sneaky way, who knows…)