TBECC Final Phase 3 Final Report Accepted, Moving to Phase 4
Press Release
September 29, 2014 – Committee of the Whole tonight accepted the final Phase 3 Feasibility Study Report for the Proposed Thunder Bay Event & Convention Centre. With Phase 3 now complete and subject to ratification by City Council, the City can now pursue confirmation of Federal, Provincial and private sector capital construction funding.
“Phase 3 was about due diligence,” said Michael Smith, General Manager – Community Services. “The extensive work completed to date, including public consultation, was essential to prepare the project and maximize government and private sector funding.” Phase 3 was supported with funding contributions from FedNor and the Northern Ontario Heritage Fund Corporation in the amount of $1.3 million.
The Final Report included:
- Overall project vision
- Facility Schematic Design to 20% detail level
- Total estimated capital costs & Proposed Guaranteed Maximum Price to Build
- Updated Business Plan & Economic Impact Assessment
- Updated Parking & Traffic Report, and the
- Final Ipsos Reid Public Opinion Survey
Phase 4 focuses on the submission of detailed Federal and Provincial funding applications and confirmation of private sector funding. Administration expects to have responses to the applications by March 2015. Moving to Phase 4 however, does not represent a final decision to proceed to Detailed Design and construction of the proposed facility. All future phases are still subject to Council consideration and approval.
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Contact: Valerie Marasco, Communications Specialist, 625-2438, cell: 621-4151 or vmarasco@thunderbay.ca
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