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Originally Posted by You Need a Thneed
Thanks Bigtime, for copying that here.
Those numbers were mentioned by Jim Stevenson on an interview with AM770 this afternoon, and are the numbers that council will see when they vote on the project next Monday.
Totalling all of the construction work together adds up to $222M, to which a 10% contingency is usually added. The other $50 million would be for financing costs, and for concessions to the Airport.
Council has set aside $50 million (or is it 40), and they plan to use $120 million or so in unallocated MSI funds, meaning that a majority of the project is funded.
I still don't know why the Airport wants concessions, they stand to gain a significant amount from the tunnel, and the city is offering to pay for it, and the Airport still wants more money? It doesn't make sense to me. I'll have to see the report, to see what that all entails.
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I haven't seen anything on it, but my guess it would be due to some combination of having them delay the start of construction of the new runway and/or inhibiting their operations or use of their land in some way while the tunnel is constructed.