Comment 58979

By RenaissanceWatcher (registered) | Posted January 31, 2011 at 22:13:54

Grape Ape:

Just wanted to add some information gleaned from today's city council meeting to your recent post about Hamilton paying $51.5 Million toward the Ivor Wynne Stadium refurbishment plan.

Although the Ticats are being credited with a $9 Million capital contribution via their agreement to buy the stadium naming rights from the City of Hamilton in instalments of $775,000 per year, city finance manager Rob Rossini said today that the city has to issue a $9 Million debenture to pay that portion of the upfront stadium construction cost. Therefore, the current estimated upfront stadium construction costs payable by the City of Hamilton would appear to be approximately $60.5 Million.

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