VANOC Board of Directors Meeting -- September 19, 2007

• International Olympic Committee (IOC) Coordination Commission visit and International Sport Federation visit: The CEO Report began with a review of the 5th IOC Coordination Commission visit that took place at the VANOC campus from September 11-13. For the first time, the visit also included representation from all seven winter International Federations (IFs). The meetings were highly productive and successful, such that the IOC and VANOC subsequently agreed to cancel the next IOC meeting scheduled in Vancouver – a bi-annual IOC project review in December. The next IOC Coordination Commission is scheduled for February 2008, in Vancouver, and will include a visit by IOC President Jacques Rogge.
• Gerhard Heiberg visit: From September 24-26, VANOC will host Gerhard Heiberg, Chairman of the IOC’s Marketing Commission, former CEO of the Lillehammer 1994 Winter Games and previous Chair of the Vancouver 2010 Evaluation Commission. His visit will include a venue tour, meetings with partners and internal VANOC functions, and speaking engagements in Richmond and at VANOC.
• International Skating Union (ISU): VANOC has received confirmation that the ISU has accepted VANOC’s proposal to change its practice facility from the Agrodome to Killarney Arena. The ISU also approved VANOC’s Sport Event schedule which will include a world Single Distance Championships in long track speed skating, a World Cup in short track speed skating, and the Four Continents Cup of figure skating.
• Provincial and Territorial Partnerships: An update was provided on the additional four provincial memoranda of understanding reached with Manitoba, New Brunswick, Prince Edward Island, and Newfoundland and Labrador. Discussions are underway with the remaining provinces.
• Venue Construction Update: This is the peak period for venue construction with crews fully mobilized on all competition venues. The project remains on track for final completion of the program, in its entirety, in late 2008. Good progress is being made across all venues and the targets for this year will be met.
  
  Highlights of the recent achievements to date are:
  • The Whistler Sliding Centre reached a major milestone in September with the on- schedule completion of the concreting of the entire track
  • Fabrication and erection of the ski jump structures at the Whistler Nordic Venue have been completed ahead of schedule
  • The new refrigeration system at the Pacific Coliseum was successfully tested
  • The roof of the main arena at the UBC Winter Sports Centre has been erected
  • Excavation for the skier underpass, on the ladies’ downhill course at Whistler Creekside, is complete and erection of the underpass structure is well advanced
  • The finish area works at Whistler Creekside are complete and Boyd Creek has been diverted to support the tailed frog habitat
• With the exception of the Whistler Athletes’ Centre and a number of minor trade contracts at Hillcrest/Nat Bailey Stadium Park (home to curling and wheelchair curling), procurement activities are nearing completion. Additional venue information is included in the Finance Committee update below.
• Vancouver Olympic and Paralympic Village: The City of Vancouver’s waterfront hard and soft landscaping works commenced in late May and are progressing well. Footing and foundation preparation has commenced in parcels two and nine, with all parcels expected to be ‘at grade’ by the end of fall.
• Whistler Olympic and Paralympic Village: Good progress is being made on site with utilities installation and road building. The Whistler Development Corporation (WDC) has submitted and received conditional approval for three Development Permit applications and foundation work will commence in the fall. The WDC has also appropriately prepared sites for the Whistler Athletes’ Centre (WAC) construction start, which is expected to commence in September. The municipal waste transfer station has now been fully relocated from the site and final landfill closure works have been begun with completion scheduled for this year.
• Accommodation Update: The Accommodation team reviewed discussions that took place with the IOC’s Coordination Commission last week and indicated that the VANOC team has secured approximately 93 per cent of the inventory to meet core client requirements for the Games, in both Vancouver and Whistler. Interest in attending the 2010 Winter Games is high and the Accommodation team will continue to work towards exceeding its overall inventory targets.
• Mascot and Torch Relays Update: An update was provided on the mascot development process and Torch Relay planning.
• Volunteer Program Update: Workforce is working with major stakeholders, both internally and externally, to determine volunteer needs for both the pre-Games and Games-time periods leading up to the “Call for Volunteers” in February 2008.
  
  Historically, 59 per cent of volunteers are from the Host City, with 30 per cent are from the provincial area, 10 per cent are from across the country, and the remaining 1 per cent are from the rest of the world. There is a need for 25,000 volunteers and 15,000 participants (ceremonies) for the Vancouver 2010 Olympic and Paralympic Winter Games. There is also a requirement for a number of skilled volunteer positions, particularly in the sport and medical fields.

• The Board approved a recommendation by the Finance Committee to transfer funds from VANOC’s central capital budget contingency to cover increased cost pressures at four competition venues.
• The central capital budget contingency is contained within the overall $580 million construction budget. Including the contingency draw, VANOC’s venue development program remains on target for completion within the $580 million budget.

• Allocation of $850,000 to Cypress Mountain
• Allocation of $25 million to the Whistler Athletes’ Centre
• Allocation of $500,000 to BC Place Stadium
• Allocation of $150,000 to the Richmond Oval

• With the approved $26.5 million contingency draw, the capital budget central contingency has been drawn down from its previous level of $53.5 million to $26.8 million. Recent assessments have concluded that the contingency program remains in a healthy condition and at an appropriate level given the stage of contracting and venue construction. The remaining venue contingency also continues to be at an amount larger than required within VANOC’s commitments to the Province of British Columbia.
• VANOC will formally report on the contingency draw as part of its Annual Report scheduled for release on October 17, 2007.