Boston 2024’s overhauled Olympics plan shifts the costs of buying land for a stadium from the city to a private developer selected through a competitive bid process, with tax breaks as an incentive; sets aside $128 million for cost-overrun insurance; and relies on $765 million in yet-to-be-authorized tax-funded upgrades to state road and rail systems.

Version 2.0 of Boston 2024’s bid for the Summer Games — unveiled at a press event this morning at the Boston Convention and Exhibition Center — is a bid to convince an extremely skeptical public their tax dollars will be safe as the sprawling $4.6 billion plan takes shape.

“The taxpayers won’t be responsible for any venue costs or any operating costs, and we believe the taxpayers are responsible for infrastructure costs that should be done in the ordinary course anyway,” Boston 2024 Chairman Steve Pagliuca said. “Any time we had a chance to take a conservative route, we did.”

Boston 2024 forecasts $4.8 billion in total revenue from the Games – $1.5 billion from broadcast rights fees and TV sponsors, $1.25 billion in ticket sales, $1.5 billion in domestic sponsors, and $535 million in licensing. The organization says its operating budget contains a $210 million cushion to cover unexpected costs.

Under the new plan, Boston 2024 would:

• Shift $1.2 billion in costs from city bonding to a private “master” developer who would buy up and prep 83 acres of land for an Olympic Stadium at Widett Circle, as the Herald reported earlier this month. The developer would be selected by the city though a competitive bid process, and win the right to develop a new neighborhood called “Midtown,” with tax breaks on new structures. Boston 2024 claims that even with tax breaks factored in, the city will see tax revenue generated at Widett Circle jump from the current $1 million to $10 million in 2030, and as high as $377 million by 2080. The same model will apply for the $2.8 billion Athletes Village and neighborhood in Columbia Point.

• Negotiate land deals with current owners, including New Boston Food Market and Americold, which combined own 21.1 acres of the Widett Circle site. The city would then choose a master developer who would close on those deals, and receive future tax breaks.

• Carry $128 million in its operating budget to pay insurance premiums to protect the city from footing the bill for cost overruns. The coverage will seek to exceed what Chicago secured for its failed 2016 bid, which included $475 million for event cancellation, $2 billion for venue construction overruns, and $50-$100 million for sponsors failing to pay. The athlete village and stadium projects will each carry separate “capital replacement” insurance. Pagliuca said Boston 2024 is working with the law firm Mintz Levin and a brokerage firm to secure the insurance, has received “general estimates,” and will be crafting a formal proposal and begin negotiations for the insurance next week.

• Rely on $1.9 billion in MBTA improvements that Boston 2024 says are currently planned and funded by the state, including new subway and commuter rail cars, new buses, and signal upgrades. The plan also relies on $455 million in additional power signal upgrades to the Red and Green lines for which no active state plan or funding currently exists. Boston 2024 CEO Rich Davey said those improvements are needed to address “non-Olympic related anticipated ridership growth,” and would allow the Red Line to run more frequent trains during rush hour and the Green Line to run three-car trains instead of two-car trains.

• Rely on $220 million in yet-to-be-secured state money to pay for improvements to Kosciuszko Circle in Dorchester and the JFK T Station, as well as $100 million for a new Broadway T station entrance. The plan proposes to privately fund $215 million in other infrastructure projects, including reconfiguring Haul Road, relocating the Cabot Bus facility in South Boston, and a new commuter rail station at Widett Circle.

• Dump a plan to site a $50.5 million broadcast and press center along Fort Port Channel. A new site is yet to be identified. Boston 2024 officials said that while some of the equipment for the center needs to be near the Boston Olympic sites, other parts can be located in warehouse space inside the I-495 corridor.

The plan leaves unresolved the venues for aquatics, golf, regional basketball, and cycling. On aquatics, Davey said the initial vision was for temporary facilities, which changed when talks started with community groups and universities to build a permanent pool.