Generate text that refutes this claim: Hosting stimulates regeneration in local areas  Hosting stimulates regeneration. The IOC is enthusiastic about bids that will leave a lasting impact and have looked favourably on cities that locate their Olympic Villages and stadia in deprived areas in need of regeneration. The 1992 Barcelona Olympics were used as a means to completely overhaul the port and coast of the city creating an artificial beach and waterside cultural area that became a lasting tourist attraction. Along with cleaning up areas and new stadia, Olympic Villages release between 5,000 and 20,000 new homes which governments can chose to hand over as low-cost housing (as is proposed for London 2012). Whilst these projects could be completed without the Olympics, the need to provide an overall package (transport, accommodation, stadia, greenery etc.) for a set deadline means that there is far more incentive to get the projects done. An example of this in London is the plan for a new £15bn underground rail system called ‘Crossrail’, first proposed over 20 years ago but only now being developed because of the attention surrounding the London 2012 bid.1 The fact that international scrutiny will follow the building program means that it is far more likely to be completed to a high standard (consider the detailed coverage of the preparations for Athens 2004).  1 Hayes, S. (2011, April 19). Crossrail will leave a positive legacy. Retrieved May 12, 2011, from Wharf
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Any large expenditure in one area will stimulate regeneration. Considering that the cost of hosting the London 2012 Olympics is predicted at £2.375 billion, expected to rise far higher, regeneration is the least that can be expected as a legacy (Carlin, 2006).1 Controversially, a large part of this (£625 million) is being financed by London’s own citizens through a rise in council tax bills (Buksh, 2007).2 Jobs are promised, but there is no guarantee that these jobs will last beyond the Olympics itself. Furthermore, the £15 billion Crossrail system planned for East London is money not spent on fixing the increasingly fragile Underground lines currently servicing Central London.  Regeneration is also only available to those areas who are fortunate enough to be hosting Olympic events. This typically means a couple of areas of one city, using funds derived from a much larger population spread over a far greater territory. The East London regeneration expected for 2012 threatens merely to substantiate the already expansive North-South divide in the United Kingdom (Ruddick, 2011).3  1 Carlin, B. (2006, November 22). Cost of London Olympics could hit £10bn. Retrieved May 12, 2011, from Telegraph  2 Buksh, A. (2007, March). Grey rebellion against Olympics Levy. Retrieved May 12, 2011, from BBC News  3 Ruddick, G. (2011, April 1). North-South divide exists on whether games will benefit whole of UK. Retrieved May 12, 2011, from The Telegraph