Comment 56122

By RenaissanceWatcher (registered) | Posted January 13, 2011 at 08:25:30

City Manager Chris Murray informed Hamilton city council last night that Bill Senn, the Senior Vice-President of Toronto 2015 Infrastructure, estimates the cost of a 15,000 seat stadium at $125 Million in 2012 dollars.

If the Hostco/Hamilton cost split is still 56%/44% as per the original agreement, then Hostco would be required to pay $70 Million and Hamilton would pay $55 Million for a $125 Million stadium.

At their press conference two days ago, Mayor Bratina and Bob Young estimated that it would cost $115 Million to build new 15,000 seat south stands as well as renovate the north stands at Ivor Wynne Stadium. They had estimated Hostco's cost share as $70 Million with the City of Hamilton paying $45 Million.

At his press conference today, one hopes that Toronto 2015 CEO Ian Troop will clarify the current cost estimate for a 15,000 seat stadium (i.e. the rebuild of the south stands at Ivor Wynne Stadium, if it qualifies for Hostco funding), whether the current Hostco/Hamilton cost sharing split is the same as originally agreed to, and whether Hamilton would be solely responsible for the cost of renovating the north stands.

Comment edited by RenaissanceWatcher on 2011-01-13 08:29:33

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