Guelph City Hall and courthouse financial overview

Project funding (City Hall and Provincial Offences)

Item Amount
Approved budget $54,850,100
Plus: unbudgeted additional funding $1,783,248
A. Total project funding $56,633,348

Project expenses (City Hall and Provincial Offences)

Item Amount
Project cost $56,968,414

Settlement costs

Item Amount
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

Item Amount
Legal/OMB Reserve $1,693,100
Capital Tax Reserve   $1,500,000
Capital Asset Renewal Reserve $5,243,287
Total $8,436,387