Comment 55752

By Mando (anonymous) | Posted January 11, 2011 at 17:39:58

There was a plan put together by city staff regarding the IWS site which would include mixed residential commercial and recreational properties which would in turn generate up to 7 mil into the city's hand what I can't remember is if this included tax revenues to the city. With the velodrome we have a unique situation with the right design as was brought up through the consultation process this facility would actually put Hamilton on the world map especially after the success of the World Road Cycling Championships. Council approved a $60 mill commitment $55 mill for capital and site costs for the stadium and $5 mill for capital cost towards the velodrome the original planned for a temporary velodrome at an estimated cost of $11.4 mill the other 6.4 mill to be provided by HOSTCO at the present time with the permanent velodrome being proposed there is a $15 mill shortfall not including land.
As far as I can see the WH site still provides the most return for our dollar the only thing it doesn't do is provide the $0 commitment from the Tiger-Cats because we could only build a 15 000 seat stadium has been said that it could be up to 20 000 with the currently allocated funds.

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