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Results Chart for Delivery Method and Financing
Background informationProject Created: June 24, 2009
Richmond (BC) Olympic Oval
Year in Operation:
Other Government Building, Sports Venue
The oval will host all speed skating events at the 2010 Olympic Games in Vancouver. It seats 8,000 and will be used for a variety of sport and community functions after the Games. The venue underwent the federal environmental assessment review process. It is targeting LEED silver certification. It is attributed with "smart site selection" by developing an already-disturbed site into a legacy community health and recreation complex.
Delivery Method as described in the country where it's located:
Design Bid Build
Is the project still active:
Souces of Project Support (Non-monetary)
Access to Land
: The site is owned by the City of Richmond.
Souces of Project Support (Monetary)
From Public (Government) Sources to Producers: The governments of Canada and British Columbia are jointly funding a portion of the construction. The City of Richmond is responsible for the majority of the project costs and for building the facility. The city pledged to not raise property taxes to fund the project. $50 million came from River Rock Casino's revenue-sharing agreement. The remainder of funds came from development charges levied for nearby projects, naming rights, and sponsorships.
From Private Capital Markets Directly to Producers as Debt: VANOC (Vancouver Organizing Committee) for the 2010 Winter Olympic Games, a not-for-profit organization, contributed $63.3 million.
Project Delivery & Finance Method
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Construction Manager At Risk Variants: Public Sponsor contracts with Construction Contractor after Design is Complete.
Term for Key Components & Forms of Contract
Initial Design and Construction
Project Value (If and As Known)
Date of Estimated Project Value: September 1, 2005
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