Updated: Mon Nov. 02 2009 15:46:08

CTVcalgary.ca

Calgary won't be hosting the 2017 World's Fair.

The city announced Monday that it is pulling out of its bid for the international event.

That leaves the way clear for the city of Edmonton to pursue its bid, which has already been given some financial support from the province.

Officials say the return on investment for a successful Calgary bid would have been about half a billion dollars.

But according to their calculations, Calgary would have been left with a one billion dollar deficit with no guarantees of funding from any level of government.

Council will now focus its efforts on redevelopment plans of the proposed Expo site in the west end of downtown.

The area will be known as the West Village.

Over 110 acres bordered by 11 Street to the east, Crowchild Trail to the west, the Bow River to the north, and the CPR tracks to the south.

Most of land is already owned by the city but officials some land purchases will be made to consolidate holdings in the area.

Please Add Comments(8)

city fellow
well perhaps we would have had the money for it if we were not BUILDING A FOOT BRIDGE FOR HOW MUCH? AND ALSO HAVING A UNITED STATES COMPANY RE BRAND THE CITY!!!!! hmmmmmm and we wonder why wy don't have money to bid on big events!

Nancy
I am glad to hear Calgary is pulling out of the running. We had no business placing a bid. All efforts should have been towards one bid to make it stronger. The city doesn't seem to think before they act.

Harry
Finally some one comes to their senses! To even attempt tp up-stage Edmonton in their bid is so childish, but what can we expect from Bronco? Bring on the next election, and please please not to many running against him to split the vote, Ric please help the citizens of this city and run!

Ric
This is the best news I've heard all day. It would have been a colossal waste of money which the current City Alderman (except for a small few) and the Mayor like to do....

Michael
Good decision, Calgary. Your bid was upsetting all that Edmonton had done, and created a problem with funding. Hopefully, Edmonton will continue with its bid. Why would Calgary do this anyway???
No, I live in Lethbridge, but would travel to Edmonton, if they were successful.
Good luck to Edmonton...

Don
Thank god!!! someone has come to their senses. I don't want to pay any more taxes.

BL
But how much money did our useless city council already spend on this bid...?

Steve-O
Best news all week!

We can just keep milking our '88 Winter Olympic legacy as our only claim to fame.