The budget identified for the City Hall Square Plaza portion of the project totals $15,157,390. The table below summarizes the overall estimated project costs.
| ITEM / COST COMPONENT | BUDGET $ |
|---|---|
| Phase 1 – Program and Design | |
| Professional Fees – Program and Design | $ 450,000 |
| Miscellaneous | $ 100,000 |
| Phase 2 – Detailed Design and Construction | |
| Construction Cost | $ 10,000,000 |
| Professional Fees – Detailed Design and Construction | $ 1,500,000 |
| Miscellaneous | $ 500,000 |
| Project Contingency | $ 2,607,390 |
| Total Budgeted Project Cost* | $ 15,157,390 |
*per Council Report C167/2019 regarding the ICIP grant application (October 2019)
The original timelines associated with this grant indicate that Provincial review and project recommendations for Federal review are likely to be completed by end of Q1 2020. The Federal review and project approvals are anticipated to be sometime in Q3 2020.
Design services are being tendered for this project prior to the award of the ICIP grant in Q3 2020 and will be considered ineligible cost with regards to the grant funding.
This project was submitted as part of an application for the ICIP (Investing in Canadian Infrastructure Program) grant funding, and therefore, no aspect of this project, which is reliant on the grant funded portion of the budget, will commence or be committed to until such time that the grant funding is approved. In the event the City is not successful, in whole or in part, in securing the associated grant then the scope of the project will need to be adjusted or additional funding may need to be dedicated to the project. In this situation, a report to City Council would be provided including a summary of the situation and various options for City Council to consider and provide direction to administration.