Halifax convention centre would cost public $327 million over 25 years: province
HALIFAX – Nova Scotia’s government estimated Tuesday a new convention centre in Halifax would cost provincial and municipal taxpayers $327 million over the next 25 years – a figure the cashstrapped province still has to approve.
Provincial officials also revealed the proposal would require an added $46.7-million contribution from Ottawa.
Darrell Dexter’s NDP cabinet, faced with a provincial debt of $13.1 billion, has been mulling over whether it can afford the building proposed by developer Rank Inc.
Asked when it will decide, Transportation Minister Bill Estabrooks would only say, “Soon, soon, very soon.”
His department’s breakdown calls for amortized payments of $10.4 million to cover the developer’s construction costs, and then another $2.9 million to the developer for operations and upkeep of the three-storey facility.
The proposal would have those costs split between the province and the city. The federal contribution, which has not yet been secured, would be needed by 2014.
The convention centre would be located on the site of the demolished Halifax Herald building.
The facility, including a ballroom half the size of a Canadian football field, would be part of an office and hotel complex that developer Rank Inc. has costed at almost $500 million.
The government said it’s expected the centre would create about 12,000 jobs and generate more than $40 million in provincial tax revenues during the first decade of operation.