The City of Thunder Bay recommends that the almaximum component of the proposed all-weather turf sports facility be covered through a special obligation.
A report from administration on the project will be presented to council at Monday’s meeting.
And while the report contains a number of recommendations, they won’t be voted on just yet; rather, the document is being presented as a first report, giving councillors and the public a chance to review the project and recommendations before a decision is made.
The vote itself is scheduled for August 10.
In the report to be presented on Monday, leadership recommends that the allocation be submitted to a tender for construction.
In addition, leadership explains how the $33 million allocation will be funded.
On the component of the required investment would come from the city; The report identifies internal sources, adding the previously allocated approved capital to the facility, the Indoor Grass Reserve Fund, estimated Municipal Accommodation Tax 2020 revenues and the Renovar Thunder Bay Reserve Fund.
A special obligation of $1 million would cover the rest.
However, the report states that the city’s leadership will “continue to explore other external investment opportunities” for the project and, depending on what is available, the special obligation could actually be reduced or eliminated (it will not be issued until the design is completed).
The city recently aims to end the facility in 2022, but the leadership warns in the report that the allocation may also face delays due to the ongoing COVID-1nine pandemic.
Potential problems, which end in the city, come with a drop in productivity due to job loss due to illness or site closures due to an outbreak of COVID-1nine among workers.
The project could also be affected by delays in the delivery of materials and equipment to the site, or a shortage of materials because of factory closures or or shipping interruptions.
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