B.C. Finance Minister Carole James says she has “grave concerns” that Victoria’s bid for the 2022 Commonwealth Games will be too rushed.
James, who is responsible for deciding whether the province will put $400 million toward the event, said she’s not convinced costs won’t run higher, despite assurances from bid chairman David Black.
“I don’t think it’s a realistic promise that can be made by anyone. That’s part of the reason why due diligence is so important — because if we’re taking something on and there’s a risk to taxpayers and citizens in B.C., we need the time to weigh that risk,” James said.
“Is that benefit more than that risk? Right now I have grave concerns about that, given the timing.”
The 2022 Games do not involve a normal bidding process, as it is an emergency replacement situation. The Games were withdrawn from the original host, Durban, in March when the South African organizers could not meet financial obligations.
The new 2022 host — Victoria, Liverpool, Birmingham or Kuala Lumpur — will have only 4.5 years to organize the Games instead of the usual seven.
The Victoria bid committee unveiled its $955-million proposed budget on Wednesday.
Its vision includes a regional stadium in the West Shore, an arena for gymnastics that will be converted into an Olympic-size ice rink and temporary venues such as a beach volleyball in front of the legislature.
But it depends on public funding for the bulk of that — including $400 million each from the provincial and federal governments. Neither have committed to supporting a Games bid.
The Games also require a government body, in this case the province, to guarantee any cost overruns.
James said she will weigh the potential cost against the province’s other commitments — including increasing affordable housing, fighting the opioid crisis and supporting communities devastated by wildfires.
But she said it might make more sense to wait for a later opportunity.
“There’s no reason why the committee couldn’t be looking at a future bid,” she said.
A decision won’t likely come before the ministry delivers its September budget, she said.
Black, who has met with the finance minister, said he is committed to convincing her.
He said Wednesday there is no risk of cost overruns.
Venues and other plans can be scaled back, if an unforeseen need arises, and there is $75 million being budgeted as a legacy fund for sport development that can also act as a cushion, Black said.
Other Canadian cities have shied away from the Games.
Toronto considered a bid, but the city’s economic development committee found it too risky to pursue.
It also identified a risk that requesting an investment for the Games could come at the expense of funding for other city priorities, such as transit and housing.
Edmonton pulled its bid for the 2022 Games in 2015, after the price of oil plunged and the Alberta government said it couldn’t afford its $800-million portion of the cost.
