Public funds for the extra costs of the Games
The extra costs for the two infrastructure works in Milan-Cortina, the PalaItalia and the Olympic Village, will be covered by public funds. State. This is foreseen by some amendments to the bill converting the Sports Decree of 30 June 2025, no. 96, now being examined by the Chamber of Deputies (the vote in committee is expected next week) For the 'Pala Italia S. Giulia Arena', destined to host the ice hockey tournaments at the Games, the municipality of Milan, in agreement with the Lombardy region, is authorised to recognise to the company responsible for the construction of the structure (from 2022 Cts Eventim will take care of it) economic contributions to cover the costs for public service charges, including those due to the increase in the prices of raw materials.
In order to build a stadium that will have a capacity of 16 thousand spectators, the initial financial plan amounted to approximately 200 million, but various factors, in addition to the cost of materials, such as the corporate changes and the tight timeframe related to the Olympic appointment, have required an integration that should be between 50 and 70 million. Resources that the City of Milan will be able to disburse against adequate guarantees on the timely release of the work to the Milan-Cortina Foundation and timely reporting. Similarly, Palazzo Marino will be able to cover the higher costs that have emerged for the Olympic Village, 'including those for the increase in production factors for the acceleration of the works'.
To this end, the municipality may amend the urban planning agreements with the implementing party, following an agreement with the Lombardy region. The Milan-Cortina Olympic Village is being built by COIMA Sgr, as part of a larger urban development project that envisages the redevelopment of the area of the former Porta Romana depot and q after the Olympics it will become a student residence. Compared to the initial cost (100 million), there could be extra costs of just over 30 million. Just yesterday, Fondazione Milano Cortina 2026, Coima and Fondo Porta Romana reached an agreement in view of the autumn handover of the Village, whose works ended early on 30 June, after 900 days of construction work. The agreement provides for, among other things, an increase in the number of beds to 1,700, 300 more than the initial forecast.
