The Los Angeles City Council today voted unanimously in favor of moving forward with the city's 2024 Summer Olympics bid.
Today's 15-0 vote authorized Mayor Eric Garcetti to come to an agreement with the U.S. Olympic Committee, which, according to the Los Angeles Times is already a done deal. LA's second chance at Olympic glory comes a little more than a month after Boston withdrew its bid.
Update: The USOC has officially endorsed LA's Olympic bid.
The bid plan calls for events held in five major clusters across the city, from Santa Monica to Downtown. The cost of all of that? More than $4 billion. Taxpayers—that's us—would be responsible for any cost overruns, but officials are projecting a $161 million profit.
So what will our competition look like? Rome, Hamburg, Paris and Budapest have all met with the International Olympic Committee. The USOC has until September 15 to officially submit LA into the running, and then it'll be a two-year wait until we find out if, in fact, we're hosting the Olympics.