Olympics Aren’t All Medals, Vancouver Finds

Restaurants are thriving. Tourism is at an all-time high. The weather is gorgeous, although maybe not for a winter Olympics.

But not all of Vancouver is happy that the Olympics is there.  First of all, there’s the crowds: one woman quoted in a New York Times article waited five hours to see an exhibit of medals at a local museum.  Then, there’s the late-night partiers.

But the biggest issue is probably going to be footing the bill.  The Olympic Village was orgiinalyl to be financed, built on city land, and then Vancouver would sell it to a condo developer, turning a profit.  And then the financing fell through, and they had to borrow money to finish it.

Also fallen through? Sponsor GM, and the resort where some of the ski races are hosted, which is up for auction.  Vancouver is currently optimistic that it’ll break even financially, but that includes 434 million provided by the Olympic Committee to help complete the village.

So don’t move to Vancouver…we’re thinking your taxes will go through the roof.

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