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10-19-2004
City Guarantees voted for Paris 2012

Paris' bid to host the 2012 Olympic and Paralympic Games received the endorsement of the Council of Paris, at the monthly meeting of all the Paris elected officials. It was accepted, at the unanimity of voters, to approve a number of financial guarantees (1.27 Billion Euros) necessary for the organization of the Games.
 
Paris City Hall (© Paris City Hall)
The Council has voted to dedicate 25 million Euros to the organization of the Paralympic Games. (© Paris City Hall)
 
- Paris City Hall's Website
This vote comes just weeks before giving the Paris 2012 Candidature File to the IOC.

The guarantees given by the City are significantly higher than the forecasted costs, as private funding sources will cover a portion of the budget of the Games including The Main Press Centre, near Stade de Franceģ and The Super Dome, near Porte de la Chapelle.† The City of Paris is expected to pay 950 million Euros to host the Games.

An additional 800 million Euros will be dedicated to the refurbishment of the Batignolles district, in the north-west of Paris, the site chosen to host the Olympic Village. This sum is to be combined with 300 million Euros dedicated to the creation of a 10 hectare landscaped park, which will later become the heart of a new Olympic district after the Games.

The Council has also voted to dedicate 25 million Euros to the organization of the Paralympic Games.

The vote also served as an opportunity for the Mayor, Bertrand DelanoŽ, to remind the Council that Paris' budget to host the 2012 Olympic Games will be reasonable and carefully managed.

These strong financial guarantees support the candidacy file that Paris 2012 must submit to the International Olympic Committee in Lausanne, November 15.
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