This risk is partially mitigated with the completion of a Stage 1 Archeological Assessment that was completed for the Civic Square. (MTSC File Number 0002575) A Stage 2 Archaeological Assessment is scheduled to be completed prior construction commencing.
Financial Matters:
Council Report C167/2019 recommended that funding for the City Hall Square and Civic Esplanade project (PLN-021-07), along with funding sources from several other projects, be directed to the new ICIP-CCR project (PFO-011-20) for the 2020 8-year Capital Budget and be deemed as placeholder funding, ensuring that these funds remain allocated as matching funding for this grant. (CR529/2019). In light of the grant not being awarded all funding has been returned to the original projects. The amounts by year returned to the City Hall Square and Civic Esplanade Project (PLN-021-07) are as follows:
| Year | Amount |
|---|---|
| 2020 | $243,000 |
| 2021 | $1,050,000 |
| 2022 | $2,000,000 |
| 2024 | $200,000 |
| 2025 | $200,000 |
| 2026 | $627,000 |
| 2027 | $200,000 |
| Total | $4,520,000 |
Administration requires $550,000 in funding from the City Hall Plaza / Esplanade Project (PLN-021-07) to be approved for immediate use to complete Phase 1 of this project. This requires all of the 2020 funding $243,000 as well as $307,000 from 2021 to be committed for immediate use. All other remaining funding for project will continue to be identified as approved in principle for this project. Administration is also actively seeking other grant opportunities to assist in cost of the construction phase of this project.