By: Nick Liard

100 million dollars…that’s how much a new event centre could cost the city with an annual operating cost of $825,000 beyond five years.

A report to the city was issued by PWC Consulting which looked at a 5,800 seat arena that would be able to host anything from a Memorial Cup to small entertainment events.

The report says the facility would have 5,800 seats and would cost 80 million dollars, before land acquisition, parking and any environmental costs.

City council will discuss the report on March 7th and look at next steps that were recommended like determining a location, negotiating terms for a new lease agreement with the Sudbury Wolves and develop a financing strategy.

The report did not recommend which finance options to go with, but gave four options that could be combined, debt, public/private partnership, ticket surcharge/facility renewal fee or property taxes.

Phase one of work cost $145,000 and the total anticipated cost of supporting Council’s decision for the next phases of work is estimated at $200,000.

Filed under: 100 million, arena, event centre, local, news, PWC Consulting, report, study, Sudbury