Much more than the $97 million dollars borrowed by the city to build the city hall :
What no one from the city has mentioned yet, is that the building cost of the parkade that services the City Hall and Library, was an additional cost of $32 million, as per this bylaw that authorized the city to borrow that money in July of 2010: http://www.surrey.ca/bylawsandcouncillibrary/BYL-17180-D473.pdf
In addition, the cost of the Civic Centre plaza is not included in the cost of the city hall, it was set aside as a separate project, and is estimated to be in the range of $9 million dollars, which is said to have been budgeted for out of regular revenues. It is included in this list of Build Surrey projects, many of which have not been completed, such as the improvments to Newton. http://www.surrey.ca/bylawsandcouncillibrary/R174-1802.pdf
The grand total for the City hall, parkade and civic centre plaza? Not including the new furnishings etc?
Approximately $138 million dollars, most of borrowed, not including carrying costs and interest.
While the city might rely on the partial rental of the old city hall to offset the costs of the new one, what exactly is going to offset the costs of this other loan? Why aren’t these other costs included in the total being presented to the public?
While city staff have justified the build out by stating that it has brought over $3 billion dollars of investment into the city centre, residents who have been told there is no money for the required amount of RCMP officers the city needs to keep pace with its growth find the amount of money borrowed for this project, staggering.