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Published: Thursday August 27, 2009 MYT 10:20:00 AM

Winter Olympic Games: IOC says Vancouver is ready

VANCOUVER, British Columbia (AP) - The International Olympic Committee says Vancouver is ready to host next year's Winter Olympic Games.

Games coordination commission chair Rene Fasel said on Wednesday the IOC was confident the Vancouver Olympics "will be an unparalleled success."

The International Olympic Committee's coordination commission paid its ninth and final visit to western Canada this week to tour venues and review operating plans and budgets with the Vancouver Organizing Committee.

The games begin on Feb. 12.

"We are confident they will deliver," Fasel said.

He said venues in Vancouver and nearby Whistler, where alpine and ski jumping events will take place, are completed. VANOC CEO John Furlong said the operational phase of the games was beginning.

Organizers are fine-tuning transportation systems and getting temporary structures in place at venues, he said. IOC executive director Gilbert Felli said the international body has a plan to deal with a $27 million budget shortfall. The shortfall comes as a result of the IOC failing to secure two international sponsorship deals.

Felli said the Vancouver Games' $1.5 billion operating budget will remain balanced.

"The IOC has made a special proposal to VANOC," Felli said. "It gives them some confidence."

He would not give details.

VANOC executive vice-president Dave Cobb said if local organizers need to make cuts or generate more revenue, they will.

Cobb said the issue has not caused disagreements between Vancouver organizers and the IOC. Organizers were hit hard when the economic downturn occurred last autumn. Significant cuts were made throughout the project to remain on budget.

The global economic crisis forced the city of Vancouver to take over funding of the athletes' village in February.

New York-based hedge fund Fortress Investment Inc. pulled out in September, saying the developer's loan was "out of balance." The city has said the billion dollar village will be completed on time. Visitors for the games may have problems finding accommodation.

Cobb said VANOC needs more hotel rooms to meet its commitments.

He said it has already paid $51 million in hotel deposits.

Members of the Sochi, Russia 2014 organizing committee also attended the coordination commission meetings.

The flame for the games will be lit in seven weeks in Olympia, Greece before traveling to Athens for a flight to Victoria, British Columbia.

It will remain in Canada for the entire torch relay starting on Oct. 30.

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