After Hamilton City Council voted today to cap the city's Velodrome contribution to $5 million, Toronto 2015 CEO Ian Troop issued a statement that the Pan Am Games host corporation will now negotiate with other interested municipalities to locate the Pan Am Velodrome.
The Velodrome proposal Council considered today would require a commitment of up to $22 million from the City, much higher than the original Council commitment of $5 million. Troop stated that the $5 million amount, "while generous, does not represent a sufficient financial commitment to go forward with the plans".
His statement reads:
The Toronto 2015 Pan/Parapan Am Games Organizing Committee (TO2015) acknowledges Hamilton City Council's decision to cap their contribution at $5 million towards the building of a four-season velodrome at Mohawk College.
However, this contribution, while generous, does not represent a sufficient financial commitment to go forward with the plans to build this velodrome in Hamilton.
TO2015 would like to thank the City of Hamilton for their hard work in developing a strong four-season velodrome proposal and the due diligence of their committees to evaluate this proposal.
As a result of Council's decision, TO2015 will pursue discussions with other municipalities who have expressed interest in this significant legacy facility.
This high-calibre facility remains a vital component to the Pan/Parapan Am Games legacy. The velodrome will attract future elite, and amateur national and international competitions, allow Ontario-based athletes to train in their home province and give the surrounding community access to a world-class facility.
TO2015 is looking forward to working closely with its community partners to help ensure a velodrome is delivered on time, on budget and on scope.