
Section 5
Norm Smith Medallist
- Nov 26, 2018
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The LNP know this will be good for the citys future.I doubt this will go ahead. The current 2700 million cost (sute to blow out)has to be funded 100% by Qlders. The LNP are yet to show their hand but the politics says with shaky support for the Project and massive pressures on Emergency and Ambulance services the LNP are highly likely to go with a revamp and additional spend on Health. The Election is Oct 24. Watch this space.
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They are just doing what the Lib/Nat have been doing for many years. That is being negative about anything.
If/when they get into power, they will say something like it is too late in the planning stage and we don't want to get international backlash over cancelling The Gabba project. Being sued by the successful tender etc etc.
However, the fact is The IOC have signed a binding contract with Queensland State Government, The BCC, The Australian Olympic Committee
They could go down the Victorian path and pay a compensation fine. That was $380 million for a much smaller Commonwealth Games.
The Olympic compensation would be much greater and a stupid thing to do anyhow.
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Too many people with agendas keep talking about the cost.
Those same people conveniently omit the income and i am not even talking about tourism.
Also, no mention of how it should change the city for the better as has been outlaid.
The Brisbane games is the first under a new IOC formula.
Most notable being 85% of the venues have to be already in place.
A very long lead in time of 11 years so budgets can be handled fairly well.
The contribution from the IOC pretty much covers The Gabba costs see below.
The remainder venues are 50/50 with the commonwealth.
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7 CONTRIBUTION OF THE IOC TO THE SUCCESS OF THE GAMES
General principles applicable to the contribution of the IOC to the success of the Games
7.1 In consideration of the Hosts, the Host NOC and the OCOG performing and complying with all their obligations under the OHC, and in order to assist them in the planning, organising, financing and staging of the Games, the IOC shall:
a. make the contributions and grant the OCOG the benefits and rights further described in §8.1(e), §9, §11 and §12
(b), representing an overall estimated value of USD 1.800.000.000 (one billion, eight hundred million United States dollars);
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10. Right to retain a share of the surplus resulting from the celebration of the Games
As further detailed in the “OHC – Operational Requirements – Finance”, any surplus resulting from the planning, organising, financing and staging of the Games shall be divided as follows:
a. twenty percent (20%) to the Host NOC;
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5. Pre-election Commitments and other commitments made by Host Country Authorities
5.1 All Pre-election Commitments shall continue in effect after the election and be binding upon the Hosts, the Host NOC and the OCOG. The Hosts, the Host NOC and the OCOG are responsible to ensure that all Pre-election Commitments remain in effect until the completion of the Games and, where relevant, until the completion of the Paralympic Games, or for so long thereafter as required pursuant to the OHC or the Olympic Charter, without prejudice to any other obligations that may exist between the Parties.
5.2 The Hosts, the Host NOC and the OCOG are further responsible to ensure that:
a. all Host Country Authorities and relevant third parties honour and enforce all Pre-election Commitments and all other commitments, guarantees and obligations they have undertaken in relation to the Games and, where applicable, to the Paralympic Games; and
b. all cities, regions or other third parties that are hosting events of the Games and/or of the Paralympic Games, perform and comply with the terms of the OHC and carry out their obligations related thereto under the supervision of the OCOG.
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