November 12 - A $70 million (£42 million/€50 million) sport legacy fund plan has been announced by Toronto 2015 Pan American and Parapan American Games organisers which will see the operating and capital maintenance costs of three of the main venues secured for a minimum of 20 years.
The new funding plan, supported by the Canadian Government and the Province of Ontario, was announced at the Canadian Bank of Imperial Commerce (CIBC) Aquatics Centre and Field House at the University of Toronto Scarborough, one of the three new facilities covered by the fund.
The venue, due to be completed in July next year, is the largest of the new-builds for Toronto 2015 and will host all aquatics events as well as fencing, modern pentathlon and sitting volleyball.
The two other venues are the Cisco Velodrome in Milton, the track cycling venue, and the CIBC Athletics Stadium at York University, which will host athletics.
The Velodrome and the Athletics Stadium are due to be completed by bext autumn with organisers claiming all three are on schedule and on budget.
"These state-of-the-art facilities are a boon to our communities and athletes," said Ian Troop, Toronto 2015 chief executive.
"This Legacy Fund will not only ensure they remain at international standards for high-performance sport, it will also help facility owners with their operating costs for years to come."
The independent Toronto Community Foundation has been chosen to manage the fund, which will distribute the first payments once the venues are officially opened next year.
"This Legacy Fund will help ensure Canadians can continue to use these facilities and benefit from sport programming well beyond 2015," said Bal Gosal, Canada's Sports Minister.
"Through this investment, our Government is making sure that generations to come have access to these world-class facilities, which will perhaps help create some of Canada's future stars."
In the first three years of the Legacy Fund, the Aquatics Centre and Field House is expected to receive approximately $4.1 million (£2.4 million/€3 million), the Velodrome $736,000 (£440,000/€523,000), and the Athletics Stadium $288,000 (£172,000/€205,000).
After this initial three-year period, future allocations will be determined by a Legacy Fund Allocations Committee based on annual business plans submitted by the facility owners.
The allocations committee will consist of seven representatives selected by the Canadian Government, Ontario, Canadian Olympic Committee (COC), Canadian Paralympic Committee (CPC) and the City of Toronto.
"The Toronto 2015 Games will be a game changer for Canadian summer athletes," said three-time Olympic cycling medallist Curt Harnett, the Chef de Mission for Canada at Toronto 2015.
"Not only are they providing much needed sport infrastructure in Ontario, but today's announcement means these venues will continue to offer our athletes the world-class facilities and conditions they deserve."
As part of the Games legacy, a number of sports governing bodies in Canada will be utilising facilities at the venues.
The Canadian Sport Institute Ontario (CSIO) is moving its head office to the Aquatics Centre and Field House while Wheelchair Basketball Canada (WBC) will locate its National Academy there.
The venue, which will have two 10-lane 50 metre swimming pools, a deep diving tank and dry-land dive training facilities, will also host high-performance teams and training programmes from Diving Canada, Swimming Canada, Synchro Canada and Water Polo Canada.
As well as providing a world-class training facility all year-round for the country's top track cyclists, the Velodrome in Milton will see onsite offices opened up by Cycling Canada and Cycling Ontario.
"I know how much this country wants to win, and today's announcement will go a long way to help create and prepare our future champions."
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October 2013: Wheelchair Basketball Canada officially open world's first full-time training academy
July 2013: First Toronto 2015 venue officially opened two years before Pan American Games
April 2013: Toronto 2015 set for first inspection visit from Coordination Commission
February 2013: Toronto 2015 has a major role to play in Paralympic Movement's growth, insists APC President
February 2013: Toronto 2015 Organising Committee remain $57.5 million under budget