The first New Jersey City to host the 2024 Olympics was Tua Tagovailo, the only city in the country to host an Olympic Games.
Tagovayo and his team did well, but it was not enough to overcome the city’s massive debt.
In a city that had the highest poverty rate in the U.S., the New Jersey state government created a special tax on housing, food, entertainment and health services to help pay for the Games.
But in Tua’s home city of Fort Lee, the government didn’t just hand over the Olympics to the city, it put up a $250 million bond.
This new tax on the city was designed to generate $1 billion in revenue annually.
Tago’s tax was the most controversial part of the project.
It raised nearly $300 million for the city but left the city with a $150 million debt that would take years to pay off.
That’s when the team, Tua, and their lawyers made a deal: they would pay Tua $250,000 in exchange for a share of the revenue generated by the tax, and they would then use the money to build a new arena for the 2024 Games.
This agreement had the potential to be a game changer for the region.
The city would be able to generate more than $1.5 billion annually in revenue.
In Tua and his new team, the city got an Olympic legacy.
It was the first major sports project in New Jersey to have its funding tied directly to revenue from the state.
And it helped to bring New Jersey’s finances back to health.
But the financial and logistical challenges of the deal were not over yet.
Two years later, the team’s financials came back and the state of New Jersey said it had no plans to make a payment.
The state had also been planning to repay the debt.
Tagó said he was surprised by the timing.
He was told that the state would have to pay by 2020.
Tagova was not convinced.
“I was very skeptical,” he told me.
He didn’t like that the team was getting paid in full while the state was making up the shortfall.
“They were making money off the city for the first time, but they’re not making money for us.
We’re getting a subsidy.”
The New Jersey Olympic Bid In September 2020, the IOC announced that New Jersey would host the games, with the city receiving $1,400 million.
But after weeks of lobbying from Tago and others, the state agreed to pay the team $1 million per game for the duration of the Games in 2024.
The money was intended to pay for infrastructure improvements to the stadium, as well as the construction of a new concourse.
Tua told me that he had mixed feelings about the agreement.
“The IOC is the most important thing in sports right now, so they’re a big part of our decision-making process,” he said.
But Tua said he did not know whether the state had been able to reach a satisfactory agreement.
The team still owes a lot of money to the state, and it’s unclear how much of that debt can be paid off.
The New York Times reported that Tagováloa and his wife, Víctor, owed $1 in back taxes.
The debt is the biggest debt the team has ever had, and there is no guarantee that it will be paid.
The only way to know for sure is to go to court.
The Bid The state did not have to make an upfront payment to the team.
The IOC gave Tua a $500,000 deposit in order to get the team to make payments.
But when the state decided to collect the money, it didn’t pay the deposit in full.
The court proceedings are ongoing, and Tua still doesn’t know if the state has yet paid the $1million that the city owes.
“We don’t know how much money they owe us,” he says.
“This is the third time we’ve tried to collect, and the second time they’ve refused to pay.”
This past summer, the Tua family filed a lawsuit against the city and the IOC.
The suit alleges that the mayor’s team “is using its financial clout to influence, intimidate, coerce, and manipulate the city of New York to pay millions in debt.”
Tua says the lawsuit has been successful in getting the city to pay back $250m to the Tuan, and he wants the city again to pay it back.
Tuan says he and his family are still struggling to make ends meet.
“When we were here, we could buy everything,” he tells me.
“Now we can’t even afford to buy our own food.
“There’s a lot that went wrong, and”
It’s not good, it’s not fair,” he continues.
“There’s a lot that went wrong, and