Quote:
Originally Posted by Bunk
Are you referring to the NW LRT extension or rec centre? (which is CIF funded - or was some MSI money allocated in 07?). In any event, we found out it's impossible to rely on funding from other levels of government. *cough* Stephen Harper *cough*. Without the CIF - ($42million tax room funded) people would still be waiting a lot longer for that rec centre.
Similarly, the main reason why NWLRT to Tuscany has also taken so long is that the Province rolled out the actual MSI funding much slower than originally promised - which has meant a lot of short term borrowing debt related to construction.
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Nope, no concerns regarding the LRT. Progress looks to be good on that.
It was MSI ($70 million if I remember right) that was approved back then. About $13 million from the provincial tax overages was set aside for P3 costs originally (before rejection and on all four facilities). As I remember, after the P3 application rejection the funding gap was made up of the Community & Recreation Levy (which is developer funded through levies) and the GST rebate from the Federal Government (which goes to the CIF you mention).
I think it's important to note that the CIF and the Community & Recreation Levy are two different things. Also, I can't find more details than this as the meeting regarding the exact financing was in-camera (if you have them would love a link!).