Quote:
Originally Posted by enjoy*responsibly
Not saying it wasn't lame but is saving the old thing worth the 4 million? Honestly
Instead of being a cost it could be a tax paying income for the city in the near future
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It sure is. $4 million isn't even that much, as far as repurposing and restoring historic structures goes. I've posted this example many times, since it's the gold standard for this stuff, but Hamilton--definitely a city in worse financial shape than Halifax--spent 30 million to
restore this building, which was in far worse shape.
There are many, many, many other examples.
And to boot, Tim Bousquet (not everyone's favourite, I know)
unearthed an engineering report prepared for the city in 2013, which indicated that addressing the deferred maintenance on the building will cost about $1.7-$1.8 million--less than half what city staff's extremely vague estimates suggest.
$4 million is totally reasonable. And the real cost may be well below that.