Building and maintaining the proposed new trade and convention centre will cost taxpayers around $327 million over 25 years if the province goes ahead with the project.
The province and Halifax Regional Municipality would not contribute any funding until 2014 when the Argyle Street facility is completed, the province also revealed yesterday.
Based on the current proposal, developer Rank Inc. would receive $46 million upon the scheduled completion of the facility in 2014 — an amount equal to the federal share of the project reported last week.
The federal funding is not yet guaranteed, senior Infrastructure Renewal official Jane Fraser said yesterday.
“That would be an equal share of the construction costs,” said Fraser.
“If we successfully negotiate equal cost sharing, the federal government would (contribute) $46 million.”
The remainder of the capital funding would be split by the province and the city to the tune of $10.2 million a year for 25 years.
