| Budget Item | Budget Estimate |
|---|---|
| Construction Cost | $1,500,000 |
| Professional Fees | 45,000 |
| Miscellaneous | 25,000 |
| Non Recoverable HST | 30,000 |
| Contingency for Soil Condition | 500,000 |
| Contingency and Financing charges | 300,000 |
| GROSS PROJECT COSTS | $2,400,000 |
Funding was earmarked for the WFCU Parking lot in future years and was previously approved in principle by Council within the 2020 8-Year Capital Budget. Administration is recommending that $2,400,000 of the funding from HCP-005-08 be pre-committed in a new project account to fund the design and construction of a new Parking Lot at WFCU Centre as follows:
- a) 2021 - $1,115,000 from Service Sustainability Investment Fund 221
- b) 2022 - $970,000 from Service Sustainability Investment Fund 221
- c) 2024 - $315,000 from Service Sustainability Investment Fund 221
Consultations:
- Carrie McCrindle, Financial Planning Administrator
- Victor Ferranti, Manager of Capital Budget and Reserves for City of Windsor
- Ray Mensour, Executive Director of Recreation and Culture
- Cory Elliot, Manager of WFCU & Recreation Facilities
- Tom Graziano, Senior Manager of Facilities
Conclusion:
The additional parking lot is required to replace the loss parking spaces as a result of the adjacent development and meet the capacity needed for the WFCU Centre.