TO2015 on schedule and on budget according to latest quarterly report

Community Mar 04, 2014 York Guardian

Preparations for the Toronto 2015 Pan Am/Parapan Am Games are on schedule and on budget, according to the organizing committee’s latest regular quarterly update released Tuesday, March 4.

“With 17 months left to go before Games time, TO2015 is continuing to track well against its financial budgetary forecasting,” said Saäd Rafi, who took over as chief executive officer of TO2015 Jan. 6, in a media release issued early Tuesday morning.

Rafi and other senior members of the organizing committee were slated to speak to the media about the latest quarterly report Tuesday afternoon.

“It’s steady as we go — with a careful eye always watching for additional efficiencies and best practices.”

The report said the total budget remains unchanged at about $1.4 billion with about $674 million dedicated to either the building of new facilities or renovating existing ones, and approximately $767 million dedicated to actually staging the Games.

The federal and provincial governments are evenly splitting $1 billion of the cost with the rest split between municipal governments and the venue owners as well as money earned through sponsorships, ticketing and other revenue measures.

The Games are already helping the economy, according to the report that states that:

“Since inception, 835 businesses have sold goods and services to TO2015, totaling more than $35.5 million as of Feb. 28, 2014. Seventy per cent went to businesses operating in the Greater Golden Horseshoe region.”

Other highlights include:

• the Parapan Am Games is being extended by a day, now running Aug. 7 to 15 (the Pan Am Games schedule remains unchanged, running July 10 to 26);

• three new venues being added, including one in Toronto at Etobicoke’s Planet Bowl (for bowling). The other two, less than a hour outside of Toronto, are the Toronto International Trap & Skeet Club (for shooting) and Will O’ Wind (for equestrian cross-country);

• TO2015 is now at 338 employees “with almost 100 anticipated staff yet to be recruited.”

New facilities include the CIBC Pan Am/Parapan Am Aquatics Centre and Field House at the University of Toronto Scarborough, being touted as the largest sport new-build for the Games and the largest investment ever in Canadian amateur sport history. As well, York University gets the CIBC Pan Am/Parapan Am Athletics Stadium.

Check out TO2015’s website at www.toronto2015.org

TO2015 on schedule and on budget according to latest quarterly report

Community Mar 04, 2014 York Guardian

Preparations for the Toronto 2015 Pan Am/Parapan Am Games are on schedule and on budget, according to the organizing committee’s latest regular quarterly update released Tuesday, March 4.

“With 17 months left to go before Games time, TO2015 is continuing to track well against its financial budgetary forecasting,” said Saäd Rafi, who took over as chief executive officer of TO2015 Jan. 6, in a media release issued early Tuesday morning.

Rafi and other senior members of the organizing committee were slated to speak to the media about the latest quarterly report Tuesday afternoon.

“It’s steady as we go — with a careful eye always watching for additional efficiencies and best practices.”

The report said the total budget remains unchanged at about $1.4 billion with about $674 million dedicated to either the building of new facilities or renovating existing ones, and approximately $767 million dedicated to actually staging the Games.

The federal and provincial governments are evenly splitting $1 billion of the cost with the rest split between municipal governments and the venue owners as well as money earned through sponsorships, ticketing and other revenue measures.

The Games are already helping the economy, according to the report that states that:

“Since inception, 835 businesses have sold goods and services to TO2015, totaling more than $35.5 million as of Feb. 28, 2014. Seventy per cent went to businesses operating in the Greater Golden Horseshoe region.”

Other highlights include:

• the Parapan Am Games is being extended by a day, now running Aug. 7 to 15 (the Pan Am Games schedule remains unchanged, running July 10 to 26);

• three new venues being added, including one in Toronto at Etobicoke’s Planet Bowl (for bowling). The other two, less than a hour outside of Toronto, are the Toronto International Trap & Skeet Club (for shooting) and Will O’ Wind (for equestrian cross-country);

• TO2015 is now at 338 employees “with almost 100 anticipated staff yet to be recruited.”

New facilities include the CIBC Pan Am/Parapan Am Aquatics Centre and Field House at the University of Toronto Scarborough, being touted as the largest sport new-build for the Games and the largest investment ever in Canadian amateur sport history. As well, York University gets the CIBC Pan Am/Parapan Am Athletics Stadium.

Check out TO2015’s website at www.toronto2015.org

TO2015 on schedule and on budget according to latest quarterly report

Community Mar 04, 2014 York Guardian

Preparations for the Toronto 2015 Pan Am/Parapan Am Games are on schedule and on budget, according to the organizing committee’s latest regular quarterly update released Tuesday, March 4.

“With 17 months left to go before Games time, TO2015 is continuing to track well against its financial budgetary forecasting,” said Saäd Rafi, who took over as chief executive officer of TO2015 Jan. 6, in a media release issued early Tuesday morning.

Rafi and other senior members of the organizing committee were slated to speak to the media about the latest quarterly report Tuesday afternoon.

“It’s steady as we go — with a careful eye always watching for additional efficiencies and best practices.”

The report said the total budget remains unchanged at about $1.4 billion with about $674 million dedicated to either the building of new facilities or renovating existing ones, and approximately $767 million dedicated to actually staging the Games.

The federal and provincial governments are evenly splitting $1 billion of the cost with the rest split between municipal governments and the venue owners as well as money earned through sponsorships, ticketing and other revenue measures.

The Games are already helping the economy, according to the report that states that:

“Since inception, 835 businesses have sold goods and services to TO2015, totaling more than $35.5 million as of Feb. 28, 2014. Seventy per cent went to businesses operating in the Greater Golden Horseshoe region.”

Other highlights include:

• the Parapan Am Games is being extended by a day, now running Aug. 7 to 15 (the Pan Am Games schedule remains unchanged, running July 10 to 26);

• three new venues being added, including one in Toronto at Etobicoke’s Planet Bowl (for bowling). The other two, less than a hour outside of Toronto, are the Toronto International Trap & Skeet Club (for shooting) and Will O’ Wind (for equestrian cross-country);

• TO2015 is now at 338 employees “with almost 100 anticipated staff yet to be recruited.”

New facilities include the CIBC Pan Am/Parapan Am Aquatics Centre and Field House at the University of Toronto Scarborough, being touted as the largest sport new-build for the Games and the largest investment ever in Canadian amateur sport history. As well, York University gets the CIBC Pan Am/Parapan Am Athletics Stadium.

Check out TO2015’s website at www.toronto2015.org