Quote:
Originally Posted by Buckey
I think that we must discount a lot of the people currently being quoted on this center. I feel that anything Ramia or Mcrea say are obviously biased. Lydon Lynch are likely not objective. The heritage group well they dont even know what they are against. They answer NO before the question is asked.
I march to my own drummer in many ways. I am trying to look at this different ways and am trying to like the project. Right now we pay $3 Million a year to the TCL. Now we are being asked for $50 Million up front and about $15 Million a year for a new center including new operating losses. Lets ignore the feds contribution will the new center be 5 times as good?
I know its a simplistic way of looking at it but its complicated so I tried the sq foot way and this way. I just dont like renting two ground level floors overlooking the economy shoe shop for that type of money while pouring yearly profits intop someones pocket and paying off his mortgage
|
Buckey, this is not right - it is not $50 million up front and $15 million per year to operate. Is is
either $46.7 million per year for the 3 levels of government plus about 2.9 miilion in annual operating expenses or it will be $57 million x 2 (NS and HRM) = $114 million dollars amortized over 25 years ($10.2 million/year) starting in the year 2014 plus the 2.9 million per year to operate. If the 3 levels of government decide to pay in lump sum payments, then it is usually spread over the construction period. If the 3 levels of government finance it this way then they will not be paying the $10.2 million per year.
It will be either:
1)
Pay-as-they-go - $46.7 million dollars for the 3 levels of government as construction proceeds over 3 - 4 years plus $2.9 million/year for operating expenses
or
2)
Layaway Plan (no money paid until the year 2014) - 10.2 million per year starting in 2014 for 25 years plus $2.9 million/year for operating expenses. This has no payments until the year 2014.
(source:
http://thechronicleherald.ca/Front/1206931.html )
Quote:
Officials said at a briefing last week that the province and Halifax Regional Municipality would cover the rest of the cost in a 25-year capital lease. The annual lease payment would be $10.2 million, plus another $2.9 million in annual maintenance and upgrading costs.
Dexter said Wednesday the funding details still have to be negotiated. Halifax regional council plans to discuss the project at a meeting next Tuesday, while the province has sent a funding application to the federal government.
|
My feeling is that you are purposely trying to inflate the numbers. If you want to make a legitimate case against the convention centre then it would be best not to treat us like idiots and use Heritage Trust tactics.