Tomorrow, the finals of the America's Cup kick off -- with host Team Oracle USA in the hole two races after being nailed in a cheating scandal.
It's been a painful and agonizing process getting to this crucial point, but, on the bright side, it's also been fabulously expensive. Wait -- that's not good.
As your humble narrator reported this week, the city, as of June 30, had sunk $13.4 million into the America's Cup, receiving back only $8.4 million from the private fund-raisers endeavoring to make the city whole. These numbers are probably even worse than they initially appear: With racing commencing in July, city costs likely ramped up, leaving the hapless fund-raisers that much further in our wake. Also, $5 million of the money given to the city was a loan made by the race's organizers -- and they want to be paid back first.
With that in mind, San Franciscans may be interested in what that $13.4 million has gone toward. As George W. Bush once put it, "It's your money. You paid for it."
The costs include the following:
See Also: International Jury Lowers the Boom on America's Cup
- $4,391,635.98 -- This whopping total went to Environmental Science Associates, Inc. Per the city controller: The City is responsible for all costs of environmental review for the events. The process required a comprehensive and efficient process under state California Environmental Quality Act (CEQA) law and a more intensive federal National Environmental Policy Act (NEPA) analysis a well. This was carried out under a consultant contract with Environmental Science Associates. Key subcontractors include transportation experts (Adavant and LCW Consulting), Water Quality and dredging analysis (Boudreau Associates, among others), Park event management consulting (ORCA), and other analysis and project management relating to achieving environmental clearance for this one-of-a-kind-event.
- $2,587,180 -- Support your National Parks! The NPS was paid for: Special use planning permit relationship with the National Park Service in respect of dedicated staffing and accelerated permit development and review.
- $1.3 million -- Funds transferred from the city's general fund to the Port of San Francisco to compensate for lost rent from businesses evicted from Port property to make way for the Cup.
- $183,875 -- The Association of Bay Area Governments pocketed this sum for: Regional Water Quality Control Board dedicated staffing, permit development and review.
- $131,419 -- That's the amount sent toward the Army Corps of Engineers for: dedicated staffing and permit development and review.
Remember, it's your money. You paid for it. And may the best team win.