| Abstract: | Planning and managing the 1984 Olympic Games presented uniquefinancial and intergovernmental challenges for city officialsin Los Angeles, but governmental cooperation and an innovativepublic/private partnership to finance and run the Games provedto be successful. Under strict restrictions against spendinglocal tax dollars, the City of Los Angeles assigned managementof the Games to a non-profit committee which raised privatefunds to finance the Games. In cooperation with surroundingjurisdictions and the federal government, the city providedkey services (such as police and fire protection, transportationplanning, and visitor services) under contract to the OlympicCommittee and used two Olympic-related taxes to pay for theseservices, with the Olympic Committee paying for additional expenses.The 1984 Olympics resulted in an estimated economic impact of$3.3 billion on Southern California and left Los Angeles witha number of new and refurbished sports and cultural facilities.Moreover, the Olympic Organizing Committee accrued a surplusof over $215 million, 40 percent of which was targeted to benefityouth sports organizations in southern California. |
