Former STC bus terminal among three sites council are asked to approve buying as part of $17.3 million plan in support of event centre.
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If council signs off on the plan, the city will be buying land for an arena before council makes a final vote to approve the project. A report from city staff notes consultants recommended this approach as a way to ensure maximum flexibility when it comes time to design and building the structure.Article content
This approach of buying the land first could potentially leave the city holding properties that aren’t used for an arena, either because the eventual design doesn’t require them, or because council ultimately decides not to go ahead with the project. If an arena isn’t built, the city could look to sell off the properties, continue leasing them out, or consider converting them for use in city operations — whatever the case, city planners wrote that they believe the city would be able to recoup most, if not all, of its investment.
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