Friday, July 10, 2009
Queens Place Shortage
The Queens Place project is somewhat in limbo until Region of Queens Municipal Council makes some critical decisions. There's a considerable shortfall of funds for the estimated cost of the project now pegged at $25.2 million dollars. Remaining funds need to come from other sources. The federal government has confirmed that Queens Place will not be eligible for further federal support and the past provincial government declined the Region's request for a top up that would have brought their commitment closer to the one third precedent they have set with other similar facilities in the province. Commitments include $7 million from the federal government, $5 million from the province and a fundraising goal of $2 million. Council will have to make a decision on the direction of the project and its affordability. Possible options include scaling back or phasing the facility in components.