you are about to see the highlights of detroit's winning presentation given this spring and the day in pursuit of the one hundred sixty eight olympic games the record consists of a selection of approximately half of detroit's presentation playboys as you here are addressing the united states olympic at this meeting detroit was selected to be the host city then the united states in the international competition which determines the sum of the games in one hundred sixty eight foremost leaders of detroit usa are here to tell you how we plan to build these qualities into the most effective community effort machinery the world has ever seen what do these five gears add up to the engine that a word for it i'm jerome p cavanagh mayor of detroit it's a great pleasure to be here today before the united states committee today we're going to show you every banner point that he tries you've never met the great sports  of detroit citizens and their neighbors is apparent in the splendid facilities presently available for all types of sporting events and all are actually within ten miles of the city the olympic village and the olympic stadium site let's take a look at some of the existing and some of the brand new facilities within this ten mile radius the proposed stadium site the focal point of the olympic games will fulfill all the technical specifications required for a one pick of events and ceremony it will have a seating capacity of one hundred ten thousand parking facilities for twenty thousand vehicles are provided various other buildings on the site include the present marina and the administrative building close by will be the brand new velodrome for cycling events with one mile bank track its permanent seating capacity four thousand but for the olympic events this will be expanded faster the for ten thousand spectators and testing of these more than modern facilities at the stadium complex the possibility of this proposed monorail plan to serve the same him directly ten minutes away is the universe detroit field house the nine thousand seat memorial is ideal for many indoor activities with the u of the stadium seating twenty one thousand is equipped for day or night gymnastics one thing a wrestling and basketball broadhead armory with seeing capacity of four thousand is a well equipped and athletic plan specially suited for fencing and weight in a offers thirty two thousand square feet of floor space detroit is ideally located for aquatic of events here is the proponent of expansion and redevelopment of our facilities one of the first and finest artificial rowing course one and one quarter miles long three hundred wide designed to meet every olympic requirement there will be no other course like it in the world the university village complex now in the advance planning stage for how both participants and guests on a three hundred four acre site which is part of the wayne state university campus will be known as olympic village during the course of the games temporary residents will dine in modern efficient rooms after dinner they may shop for enjoy a wide series of recreational facilities olympic village now being planned for both permanent students and faculty hous by the summer of one nine hundred sixty eight it will be the most modern and while service facility of its kind anywhere in the world this is typical of detroit's concern for the housing and hosting of not only participants and yes but the tremendous influx of ethnic groups that will find the many many homes of the free zone ethnic groups waiting for them with the open door of hospitality detroit's new civic center is recognised the world over is one of the largest and finest  vention holland exhibits building includes a floor area of over one hundred thousand square feet the reunify part of torrey m seats twelve thousand people all of these facilities as well as those for  shooting an equestrian activity are already in existence or in the very advanced stage and absolute assurance can be given to the extent not presently available these facilities can and will be provided people coming to the games here in america's heartland will find plenty of places to stay forty five thousand comfortable motel and hotel rooms are within one hour's drive now i want to establish firmly the financial responsibility and capacity of usa to make the one nine hundred sixty eight olympics an outstanding success first let's look at the fiscal soundness of detroit as demonstrated by the budget for a one nine hundred sixty two sixty three budget well over three hundred fifty million dollars we're proud to say that this budget has been balanced realistically and is based on conservative estimates of revenue sources detroit has never been so financially healthy as for industrial the true and real value of the six county area we call metropolitan detroit is reckoned in the billions specially dramatic is the city of detroit municipal development since one nine hundred fifty two and plan by nine hundred sixty seven detroit taxpayers to put well over a billion and a quarter dollars in capital improvements as for commerce detroit because of the st lawrence seaway now handles a greater number of imports and exports than any other port of entry in the entire united states except new york city retail sales  metropolitan detroit over five billion dollars today detroit produces more wealth per capita than any other city in the united states seventy one percent of writers own their own homes a record among the nation's population centers we are a fiscally stable olympic minded community i believe that we have convincingly pro trade our ability our facilities and our determination the basic purpose as we understand it in staging and olympiad the olympic torch in all parts of the world we have graphically demonstrated that detroit our city is centrally located for over ninety million people in the united states everyone in our area supports the olympic bid the service clubs the high schools the college students the leadership and membership of the great international labor unions that are headquartered in our city business man educators city councils in michigan and surrounding areas mayors in most of the major midwestern cities what i'm saying in effect is that the men  women the children of all races and all the diverse national groups have voiced their support for detroit separates now let's get down to our program for financing the one nine hundred sixty eight olympic games most of the facilities as mentioned earlier are already in existence i might add standing and paid for we are concerned here with the financing and construction of two major projects first olympic village the city of detroit along with wayne state university is already committed to the fulfillment of this city within a city which will be a dynamic part of the wayne state university campus second the new stadium in  quest for the one nine hundred sixty eight olympics the michigan legislature has a the public authority to finance and operate the stadium and now to tell you about this legislation it gives me great pleasure to present the honorable george romney governor of the state of michigan governor thank you mayor cavanagh our state legislature has taken almost unanimous action it's passed three m twelve eighteen creating a state recreation and building authority to issue bonds and sell the stadium second while we only need a million three hundred sixty thousand to pay the principal and interest on the stadium the second back number twelve nineteen provides a million six hundred thousand of additional revenue annually it might surprise some of you to know that this year michigan will have a surplus of thirty four million dollars and we'll have a surplus next year the stadium bonds will be paid for from the state's general revenue third the legislature by a concurrent resolution has created a joint house senate committee to make sure that the legislature does the additional necessary things to bring program i know of no major legislation that has ever gone through the michigan legislature as rapidly as this and this is so that we could present a firm and adequate program so that we can be sure that the hundred sixty eight olympian will be have not a nineteen thirty two model stadium but in our nineteen sixty eight model thank you very much