12:59 GMT17 February 2020
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    One-billion-dollar Los Angeles Olympic village construction estimates might stand in the way of the city’s 2024 Summer Olympics bid.

    MOSCOW (Sputnik) – Estimates indicating that the construction of an Olympic village could cost Los Angeles over $1 billion might stand in the way of the city’s 2024 Summer Olympics bid, The Los Angeles Times reports.

    The village would be located on railroad land, however, land preparations and the relocation of railroad operations could cost a lot more than the $1-billion estimate, the newspaper said on Thursday, citing a report released by City Administrative Officer Miguel Santana and Chief Legislative Analyst Sharon Tso.

    The analysts said in their Thursday report that several other key issues related to the Olympics require more examination.

    This architect's rendering released Monday, June 29, 2015, by the Boston 2024 planning committee shows an Olympic stadium that is proposed to be built in Boston if the city is awarded the Summer Olympic games in 2024
    © AP Photo / Elkus Manfredi Architects for Boston 2024
    Los Angeles Mayor Eric Garcetti announced the city’s plans to host the 2024 Olympics earlier this week. Garcetti’s office estimated that the games would cost $5.8 billion and would generate $160 million in profits.

    Members of the Los Angeles City Council plan to review the bid proposal on Friday.

    National Olympic Committees have until mid-September to send in their applications for hosting the 2024 Summer Games.

    Boston withdrew its bid to host the games last month, with the city’s Mayor Martin Walsh saying that the financial future of the city was more important.

    A number of cities that have hosted Olympics in the past, including London, went over initial cost estimates for the games.


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