What is the proposed budget to implement the revitalization of the Square?
The overall project cost to implement the revitalization of Nathan Phillips Square is estimated at $40 million. In December 2005, when City Council approved the comprehensive framework for the design competition, it also approved multi-year capital funding of $16 million towards implementation of the project. For the remaining $24 million, Council requested the submission of a further staff report on other sources of funding to implement the project, including private/public partnerships or other orders of government. A fundraising feasibility study is currently being undertaken by an outside consultant to explore and assess the potential for external funding sources for this project.
