Chicago 2016 Chair Will Use IOC Report As Improvement Guideline

Ryan To Improve Chicago Bid Based On IOC Report

The city of Chicago, which Wednesday was named a finalist to host the 2016 Olympics, placed "fifth in three of the 11 areas evaluated, fourth in three others and no higher than second in any" in the IOC's report on bid cities for the Games, prompting Chicago 2016 Chair Patrick Ryan to take the report the "way the IOC wants, as a guideline for improvement," according to Philip Hersh of the CHICAGO TRIBUNE. The report questioned "how people would get from rail lines to the large concentration of sports venues planned for the lakefront, saying they were 'not in close proximity.'" Ryan: "That surprised me a little. We know Chicago so well, we realize people either walk or take a shuttle or get a bus. We will look at other modes of transportation (to the lakefront) from the trains. And when they come in (next spring) on the IOC evaluation commission, they will study the maps and reality of the rail system." While the report said Chicago's "construction budgets appear low and may warrant review," Ryan responded, "I think they're asking us to look at it from a perspective of, 'Have you factored in all of the costs and adjustments?' and we really believed we have. We feel comfortable with the numbers." Additionally, the report indicated that Chicago's planned $1.15B "public/private guarantee against operational shortfalls does not meet the Olympic Charter requirement that the city and Olympic organizing committee be fully responsible for all such shortfalls." Ryan: "They are going to compare what we have to other guarantees. Not all have a national government guarantee. We feel comfortable with what we have. If it needs to be further addressed, of course we will" (CHICAGO TRIBUNE, 6/6). LOCOG Chair Sebastian Coe said of the IOC report, "No candidate city should look [at] that initial evaluation as being anything other than incredibly helpful" (CHICAGO TRIBUNE, 6/6).

SHORTFALL COVERED: With the IOC "questioning the financial guarantees behind the Chicago Olympic bid group's plan," some city aldermen said that the City Council is "prepared, if necessary, to up the ante of the city's potential liability." In Chicago, Spielman & Herrmann report the City Council already "has agreed to cover $500[M] in potential shortfalls if Olympic revenues fail to cover expenses -- a guarantee that Mayor [Richard] Daley and Chicago 2016 committee officials insist won't need to be tapped" (CHICAGO SUN-TIMES, 6/6).