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Gallaria mall rebuild

05-Feb-2013 [8464]

Part of Capital Budget

Jeff Care 5:30am Jan 29 this not a recent update to the report on the whole project from 2002 and on i thought i might share this for next meeting who ever buy galleria is spend this much according to page 18/34 of the pdf format report of 2004 1,950,000 thats the total founding were getting $325,000 towards improvements for the Wallace-Emerson Community Centre to be associated with phase I of the development; (b) $150,000 towards improvements for Wallace-Emerson Park. In addition to the parkland dedication, this will be associated with phase II of the development; (c) the provision of a 20 year lease for a 2,000 square foot, at grade, non-residential unit to be used for community purposes. The lease would be in favour of the City and the rent would be nominal (i.e., $1 a year). The value of this benefit has been estimated at $520,000. It will be associated with phase II of the development; and (d) $200,000 contribution toward public art to be located on the site. This will be associated with phase III of the development. In total, the community benefits amount to approximately $1,950,000 in cash and community space. All contributions will be indexed.

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