Olympic Charter Cities

An interesting idea from Max. It’s getting harder to find a city to host the Olympics , a Charter Olympic City might be just the ticket to get a Charter City off the ground and share costs.

A public-private partnership model for building the Olympic village would alleviate some of the budgetary pressure on governments and provide a launchpad for stakeholders to get their special jurisdiction off the ground. The current funding model for Olympic projects is that governments foot the entire upfront bill and pay for private contractors to build the stadiums and a mini-city. In exchange, they don’t share the revenue from the games themselves or the developed area after the games with anyone (except the IOC).

…An Olympic charter city provides an alternative funding model that has the potential to be more profitable for cities and private developers. As in the development of a charter city, a portion of the upfront cost of construction would be paid for by a private developer, rather than entirely from the local government. This cost sharing is mirrored after the games where the local government and a private charter city developer share political autonomy, tax revenues, and the cost of providing public services for the Olympic charter city.


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