compete independently during the 2018 Winter Olympics. Bidding process Sochi was elected on 4 July 2007 during the 119th International Olympic Committee (IOC) session held in Guatemala City, Guatemala, defeating bids from Salzburg, Austria; and Pyeongchang, South Korea. This is the first time that the Russian Federation has hosted the Winter Olympics. The Soviet Union was the host of the 1980 Summer Olympics held in and around Moscow. Cost and financing As of October 2013, the estimated combined cost of the 2014 Winter Olympics had topped US$51 billion. This amount included the cost for Olympic games themselves and cost of Sochi infrastructural projects (roads, railroads, power plants). This total is over four times the initial budget of $12 billion (compared to the $8 billion spent for the 2010 Winter Olympics in Vancouver), and made the Sochi games the most expensive Olympics in history, exceeding the estimated $44 billion cost of the 2008 Summer Olympics in Beijing, which hosted 3 times as many events. Dmitry Kozak was the main overseer for the events in Sochi. In its final budget published in June 2014, Olimpstroy—the state corporation that oversaw the Sochi Olympics development—reported the total allocated funds for the 2014 Sochi Winter Olympics of 1,524 billion rubles (US$49.5 billion). However, only about a fifth of that budget ($10.8 billion) was directly related to the Olympic games, while the rest went into urban and regional regeneration and the conversion of the Sochi region into an all-year round sea and alpine resort. The breakdown table below is based on a report that has analyzed the distribution of Olimpstroy's $49.5 billion budget. Estimates also suggest that additional unrecoverable operational costs (including for security) could have added another $3 billion. The breakdown of the 2014 Sochi Winter Olympics costs Venues With an average February temperature of and a humid subtropical climate, Sochi is the warmest city to host a Winter Olympic Games. Sochi 2014 is the 12th straight Olympics to outlaw smoking; all Sochi venues, Olympic Park bars and restaurants and public areas were smoke-free during the Games. It is also the first time that an Olympic Park has been built for hosting winter games. Sochi Olympic Park (Coastal Cluster) The Sochi Olympic Park was built by the Black Sea coast in the Imeretinsky Valley, about 4 km (2.5 miles) from Russia's border with Abkhazia/Georgia. The venues were clustered around a central water basin on which