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Cut coming for Games party budget?

The world’s economic downturn is playing party pooper to Vancouver’s Olympic celebrations.

The world’s economic downturn is playing party pooper to Vancouver’s Olympic celebrations.

The city is expected to trim its “live site” budget by $5 million because of a possible drop in sponsorship revenues.

The city’s live sites, at David Lam Park in Yaletown and a “piazza” at the former bus depot at Beatty and Georgia streets, offer a free, family environment for people to celebrate during the Olympic Games.

Live Nation Canada, the largest producer of concerts in the world, will produce the sites in partnership with Five Curr­ents, which will design, build and manage them.

Originally budgeted at $23 million, the budget will be reduced to $18 million if the proposed cut passes a vote by council.

If passed, the city will pay $5 million and the federal government $10 million. The remaining $3 million will come from sponsorship as well as merchandise and food and beverage commissions.

 
 
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