Comment 103082

By kevlahan (registered) | Posted July 08, 2014 at 15:15:59 in reply to Comment 103081

Just to be clear: the total estimated development and other non-levy (i.e. non tax) charges contributing to this project are $23M (including $1M for a parkland dedication fee!). Which means the province and the city actually pay a net (tax generated) amount of $52M to the project, $39M from the province and $13M from the City.

The City figure of $7.5M is only the total construction cost (which is capped). It does not include land costs or overhead. All costs are split 75/25 between the Province and City.

Of course, this expense is claimed to facilitate the new development, which will raise new taxes, but this sort of auto-centric sprawl development is unsustainable in the long term (and does it really require a $75M new interchange to work?). The development charges estimate also assume full build out.

Comment edited by kevlahan on 2014-07-08 15:25:34

Permalink | Context

Events Calendar

Recent Articles

Article Archives

Blog Archives

Site Tools