THUNDER BAY -- City council members will look at the latest report for the proposed Event Centre tonight.
According to a new Phase 3 report released Wednesday by the city, the total cost of constructing a new event centre will come with a $114 million.
The report outlines that the proposed event centre’s guaranteed maximum price of construction and related contingencies is set at $101 million. Other capital costs, including the hydro substation relocation ($4.3 million), transit terminal relocation ($2.9 million), parking ($2 million), project contingency ($3 million) and utility relocation ($800,000) that aren't included in the guarantee brings the project’s price tag to $114 million.
The previously proposed parking complex and pedestrian bridge are no longer included.
The report also shows the facility will have an annual net loss of $1.2 million for the first five year.
The report will be presented to city council tonight before being submitted for debate and a vote later this month.
A public open house on the event centre is scheduled for Sept. 24.
(TBT News)
--With files from Jamie Smith
