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 |
