Don't forget that in the past Lansdowne operations were about
revenue neutral, once
rental revenues were considered.
But all those revenues to the City have been lost, since all the meeting space in the Civic Centre were pushed out in the sweetheart deal with Shenkman to build that nasty barn with no transit stop by the Airport.
And don't forget, that OSEG browbeat the City into helping pay for the roof repairs, when it seems pretty clear that such an overrun should have been OSEG's responsibility.
Because, wasn't that the whole idea with entering into a P3 for this project?: to protect City taxpayers from unanticipated additional costs?
You know, the private capitalist takes the risk, so they reap the rewards.
But sometimes they have to 🞵🞵🞵🞵 extra costs up. Unless they're already in bed with the other party to the contract, and then they make it clear that they'll litigate, so it would be cheaper for the City just to give in.
Quote:
Originally Posted by phil235
Not quite. The City was spending $4 million a year to maintain the park that it no longer has to spend, plus administrative costs. And don't forget that the $23 million steel repair would have been on the City if not for this arrangement. So that is a $31 million benefit over 2 years right there.
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