Madrid 2016 issued a press release saying Madrid Town Council has reaffirmed its promise to the city’s candidacy for the 2016 Games through ratifying all the statutory requirements detailed in the International Olympic Committee (IOC) Manual on Candidacy.
The areas covered include economic, legal, environmental, financial, marketing, venues, Paralympic Games, Olympic Village, health, security, accommodation and transport.
The city government is to spend 1,720,046,806 Euros.
According to the press release the Town Council promises to place at the disposition of Madrid 2016 without cost the sporting and non-sporting venues necessary for the Games, including the Casa de Camp, Olympic Stadium, Aquatic Sports Centre, Telefonica Madrid Arena, Manzanares Tennis Centre, Olympic Pavilion, Aguas Bravas Park, BMX Circuit, Olympic Velodrome, South Remo Canal and Olympic Hockey Stadium, which exceed 32 per cent of the total for the financing of necessary infrastructure.
The Town Council will spend 1,524,585,572 Euros on sporting infrastructure or 100 per cent of the total costs for the BMX Circuit, Olympic Village, Media Village and permanent works to be undertaken on the Olympic Stadium and Aquatics Centre. It will also pay for 33.3 per cent of the total cost of the construction of the Olympic Pavilion, Paracuellos Shooting Centre, Hockey Centre, Remo Canal of Madrid/Getafe and the Aguas Bravas de la Gavia Park.
With regard to the Town Council’s proprietary venues, the Organizing Committee is to have exclusive use for the Games along with the right and demand to grant access to the facilities for NOCs for training and familiarization purposes.
The municipal government, along with the government of Spain and the city of Madrid, will cover one third of the Organizing Committee’s eventual deficit, and the City of Madrid will contribute to the financing of the Paralympic Games at a cost of 30,344,409 Euros and will assume a third of the estimated budget for the Paralympic Games.
Madrid Town Council also promises to execute, construct and finance the projected transport infrastructure for which 165,116,825 Euros has been budgeted.
The Madrid Town Council will also undertake a regeneration project, which involved the Madrid River, “one of the strongest features of the candidacy” said the press release.
