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City Council Unanimously Approves LA’s 2024 Olympics Bid

The 2028 Olympics is officially awarded to LA.

The City Council unanimously approved plans to bid on the 2024 Summer Olympics. The 15-0 vote authorizes Mayor Eric Garcetti to pursue the bid. Despite the unanimous vote, several council members expressed concerns about a city guarantee for potential cost overruns, a typical demand of the International Olympic Committee. The overall project cost could run as high as $6B, but Garcetti is confident revenues will exceed costs and create a $161M surplus. A decision on the host city will not come until 2017. Budapest, Hamburg, Paris and for consideration. The US has not hosted the Summer Olympics since 1996 in Atlanta; Los Angeles previously hosted the games in 1932 and 1984. [LAT]