Tag Archives: Urbacon

Guelph City Hall and courthouse financial overview

Project funding (City Hall and Provincial Offences)   Approved budget          $54,850,100 Plus: unbudgeted additional funding            $1,783,248 A. Total project funding          $56,633,348 Project expenses (City Hall and POA)   Project cost          $56,968,414 Settlement costs: Urbacon Limited            $6,635,000 HST                $495,450 Input Tax Credit              ($451,186) Aviva Insurance Company of Canada                $100,000 Moriyama & Teshima Architects              ($150,000) Money paid back from lien claims ($828,427) Total settlement costs            $5,800,837 Legal fees            $2,300,484 B. Total project cost          $65,069,735 Additional cost to the City (B – A)            $8,436,387 Funding the additional cost Settlement Legal/OMB Reserve            $1,693,100 Capital Tax Reserve            $1,500,000 Capital Asset Renewal Reserve            $5,243,287  Total $8,436,387 Resources View the staff report and final accounting of… Continue reading Guelph City Hall and courthouse financial overview