Comment 72305

By Vod_Kann (registered) | Posted December 15, 2011 at 15:21:30

Not in that release but the spec has them having to commit up to $21mil which put the price at close to $48 mil. It was origianlly 35-45mil. Did it go up again?

http://www.thespec.com/news/local/ar...-...

Milton gets the nod for velodrome, but …

The velodrome race is Milton’s to lose.

Officials with the 2015 Pan Am Games confirmed in a release this morning that the town of around 80,000 is their pick for the planned site of a permanent indoor cycling track.

But to seal the deal, Milton officials must sign a binding agreement by Jan. 24 promising to cover up to $21 million of velodrome building costs, according to the release.

Hamilton gave up its frontrunner status in the velodrome race in October after Pan Am officials rejected council’s $5 million offer towards a facility that could cost up to $45 million.

A late bid from Milton proposes to spend less than $5 million in taxpayer cash, but confirmed private sector contributions have already surpassed $7 million.

Milton hopes to building the velodrome alongside a planned “education village,” a proposed new satellite campus for Wilfrid Laurier University

The province has yet to give the green light for that development, however.

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