It’s officially official: Los Angeles will host the 2028 Olympic games.

The city has been all but assured to host in either 2024 or 2028 since June, but a unanimous vote Wednesday by the International Olympic Committee cemented an agreement reached between Paris and Los Angeles in July, under which Paris will get the 2024 games and LA will host in 2028.

The agreement was made possible after the IOC, in a rare move, decided to award both the 2024 and 2028 games simultaneously. The last time that happened was in 1921, when Paris again went first, hosting the 1924 games, while Amsterdam took the 1928 games.

Mayor Eric Garcetti argued in July that the longer wait would be worth it for Los Angeles. In advance of the games, the organizing committee will provide the city with up to $160 million in funding for youth sports.

On top of that, new sponsorship agreements expected to be in place by 2028 will increase the likelihood that the games will turn a profit, according to Garcetti.

If the games don’t turn out to be profitable, California taxpayers could be on the hook for cost overruns. A bill now making its way through the state legislature would commit up to $270 million to the organizing committee if the games go over budget.

Though leaders of the city’s bid have argued that LA’s low-key plan for the games—which doesn’t require construction of any permanent venues—will ensure the games are a financial success, critics of the games have argued that more careful review is necessary, and that hosting could lead to displacement of longtime residents.

NOlympics LA, a coalition of groups opposed to the games, has already launched an online petition calling for a citywide vote on whether to accept hosting responsibilities.

“Despite the fact that the IOC has awarded LA the bid to host the 2028 Summer Olympics, the fight isn’t over,” said the group in a statement.

In anticipation of the IOC’s decision, sites around LA were illuminated Tuesday, including the Olympic cauldron at the Los Angeles Memorial Coliseum, where opening ceremonies were held for both the 1932 and 1984 games.