Comment 75004

By Chevron (anonymous) | Posted March 05, 2012 at 08:05:05

Did the province rent the city a wrecking ball?

"...in keeping with this complicated three-way deal, the pot has suddenly been sweetened at the 11th hour.

Among other things, staff is expected to tell council that the city’s financial contribution is about $20 million less than originally touted.

Thanks to provincial subsidies, the city’s total financial contribution is now pegged around $26.1 million instead of the $47 million or so that’s been bandied around for months.

The bulk of the $26.1 million consists of a $20-million capital grant from the city to help Mac build the facility and acquire the property from the school board.

The other $6.1 million is the cost of public health services leasing space within the Mac campus over 30 years — down from an estimated $24.5 million to $27 million.

Robert Rossini, general manager of finance, attributes the tumbling to about $18.4 million in provincial subsidies to help relocate and house public health."



http://www.thespec.com/opinion/article/681460--staff-discovers-mac-health-campus-to-cost-city-almost-20-million-less-than-expected

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