to the local construction industry now and the future. The construction process has also included extensive use of local suppliers and experts in conjunction with international specialists, ensuring that adequate skills transfer take place. An estimated total of 6,800 jobs were created throughout the process and the development of the stadium was expected to result in the upliftment and urban renewal of the surrounding residential and commercial area of North End and the major routes leading to the stadium. It was hoped the stadium would bring vast social and economic opportunities, during and after the World Cup. Financing Original estimates put the cost of the stadium at R895 million, of which the city of Port Elizabeth would have been expected to pay R 95 million. This was part of an informal agreement on World Cup stadium funding, whereby local municipalities would cover 10% of costs, provincial government 20% and national treasury would cover the other 70%. As with other World Cup stadia in South Africa, construction costs for the Nelson Mandela Bay Stadium spiralled substantially. It increased from the June 2006 estimated cost of R 711 million, to R 1.5 billion in May 2008, and finally the completed cost of R 2.065 billion. The stadium eventually cost R 2.1 billion to build, of which the city has already paid R 336 million, and may still be laible to pay a shortfall of R 261 million. However, if the shortfalls are calculated based on the 10-20-70 split, then the national government may still owes the city R 70.5 million and provincial government R 191 million. National treasury has so far contributed R 1.375 billion, or 66.5% of the stadium's cost. Despite this, national treasury has stated that they will not forward more funds to World Cup stadiums. It appears as though Port Elizabeth residents may make up the shortfall through larger rates increases. There will be an extra 2% increase in property rates, an extra 1% increase in water tariffs and sanitation and refuse rates, as well as an extra 4% increase in electricity tariffs. The stadium's running costs are estimated to be R18 million per year. As of 2010, the stadiums operating company, Access Facilities and Leisure Management, expected to break even by 2012. Post-World Cup usage The Nelson Mandela Bay Stadium is the home ground to EP Kings, Southern Kings and Chippa United. The Southern Kings were part of