Coun. Shane Keating’s motion to extend the $52 million in provincial “tax room” from a 10 year commitment to 30 years was approved in council Monday
This just the beginning. Cost estimates for large public works are always underestimated. The estimated cost of the Blue Line LRT was around seven hundred million dollars. The final cost was around $1.4 billion.
A big reason why the difference is Council making design changes – after the initial contracts are awarded. These design changes are usually on a”cost plus” basis. Examples of this are route and station changes.