So the net cost to local taxpayers of the Gardiner rebuild is, actually, $1.897 billion higher than it was claimed in August 2015. The cost inflation to the people of Toronto is even higher than that, because $820 million in expected federal funding appears not to be coming. The new price tag, included quietly in a report to Mayor John Tory’s executive committee, is more than $1 billion higher than the one approved just one year ago. The boulevard option was projected to cost $326 million in upfront capital, while the hybrid was said to cost $414 million. To many people, that didn’t seem like a worthwhile expenditure when the cost was $414 million.

Source: thestar November 28, 2016 13:53 UTC