Title
City of Spruce Grove - Spruce Grove Civic Centre Funding Request
Proposed Motion
That Council approve a total capital contribution of $4,378,000 from Recreation Facility Restricted Surplus for the City of Spruce Grove Civic Centre project to be paid over a three year term.
Body
Administration Recommendation
Administration supports the motion as presented.
It uses available funding in a way that supports a facility our residents will use without impacting tax levy.
Purpose
Spruce Grove Civic Centre funding request.
Summary
The City of Spruce Grove has been exploring opportunities to address community needs for additional ice surfaces. Needs have been identified through regional studies and engagement with Spruce Grove user groups and residents. Spruce Grove has developed plans for a Civic Centre which includes ice surfaces among a number of other elements that will address these needs. Total estimated cost for construction is $72,789,000, along with an estimated annual operating deficit of $586,000.
Administration has reviewed the proposal, request, and provides the attached report and recommendation for Councils consideration and decision.
Strategic Plan/Policy/Legal/Staff Implications:
Complete Communities - We offer a wide range of lifestyle choices, community services and other amenities to meet community needs..
Financial Impact:
Cost: $4,378,000
Source of Funding: Recreation Facilities - Restricted Surplus