Chicago 2016 gets key IOC report on bid

CHICAGO (AP) - The concerns might sound familiar to anyone who knows Chicago: Transportation bottlenecks, relationships involving city officials and, most important, who's on the hook for millions of dollars.

The International Olympic Committee mentioned all of the above Wednesday in an eagerly awaited report that sized up Chicago's chances of landing the 2016 Summer Games against Rio de Janeiro, Tokyo and Madrid.

The report gave Chicago's bid generally good marks with one month to go before the host city is chosen, on Oct. 2 in Copenhagen. But it wasn't perfect, even though bid leader Patrick Ryan said he isn't worried.

"There's nothing in those issues that we cannot resolve," Ryan said.

The report looked at venues, budgets, transportation plans and public support. In Chicago's case, the financial guarantees required to stage an Olympics have been a key issue - and it came up again Wednesday.

Unlike other bid cities, Chicago's candidacy is not underwritten by the federal government. The city proposed a capped guarantee of $750 million - something the IOC said presents a "risk" in the event of a larger deficit.

Since the IOC visited Chicago in April, Mayor Richard M. Daley has pledged to sign the host city contract, requiring the city to take full financial responsibility for the games and a proposed $4.8 billion operating budget. The next step is City Council approval.

Ryan said bid leaders have lined up nearly $2 billion in insurance coverage to mitigate the risk to Chicago taxpayers. They have also been meeting with city aldermen, some of whom bristled publicly when Daley agreed to sign the contract without asking the council first.

"We've met with all of them, answered their questions. It's not yet gone through its final process. It is well along the way of approval," Ryan said.

Still, Aldermen Manny Flores said issues remain about how the council will monitor the run-up to the Olympics if Chicago wins the bid. Flores is behind an ordinance that supporters say is tougher than one proposed by Daley: It would let the city inspector general's office and an independent public interest group keep a close eye out for any waste or fraud in a city with a long and sordid history of corruption.

"More aldermen are leaning toward supporting the bid - that being said, there are still questions about oversight and transparency," Flores said.

The IOC also said transportation could be a "major challenge" in Chicago, with its veteran elevated trains and sprawling commuter rail lines. And the report said there was a need for "clearer delineation of roles and responsibilities" between the city and organizing committee.

Local organizers said any IOC concerns over the public transportation system can be resolved because the Olympics would be the stimulus for needed repair and expansion.

Chicago officials want President Barack Obama to give his hometown's bid a final boost by coming to the IOC meeting in Denmark. There's no word yet from the White House, although Obama has been a vocal supporter of the bid.

Ryan said Chicago has momentum going into the final month of competition for the Olympics and he's glad nobody is calling Chicago the favorite.

"It's competitive. It's going to go down to the wire. Nobody knows who's going to win this," he said. "We have as good a chance as anybody."