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“If you want to keep property taxes low, you have to grow your city. You have to grow your city in terms of population, you have to grow your city in terms of economic activity.”
Co-Chair of the Catalyst Committee, Kaun. Bob Hawkins speaks at City Hall at a tech briefing in Regina on Tuesday, February 28, 2023. Photo by TROY FLEECE/Regina Leader-Post
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Tim Reid and Bob Hawkins made two things clear to him on Tuesday: The city of Regina cannot single-handedly fund every proposed catalyst project.
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The projects are, of course, meant to catalyze the core of the city, bringing new investments and drawing people here for tourism and to stay permanently, explained Coun. Hawkins (station 2). But cities also need to keep people, especially those in the He 25 to Her 40 age group.
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“How do we solve this problem? We build pools and playing fields and sidewalks and give people things to do,” Hawkins said.
“If you want to keep property taxes low, you have to grow your city. You have to grow your city in terms of population, you have to grow your city in terms of economic activity.”
In relation to this pathway, this is the main recommendation of the Catalyst Commission report. Initially, the committee had planned to consider five projects. A new multi-purpose downtown venue to replace Brant Center, a multi-purpose outdoor baseball field, and an outdoor synthetic soccer field now integrated into one venue, replacing Lawson Aquatic. Substitute for Center and Central Library Annex. Article content
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Trails were not part of the original project list.
At a media briefing on Tuesday, Hawkins said the trail project will cost at least $10 million, with another $10 million needed for improvements, amenities, art, etc. to be installed along the area. .
Trail Systems, Water Centers, Libraries Are Regina’s Top Priorities: Catalyst Commission Report
Catalyst Board Voting Shows Support for Library and Water Center Projects
According to the calculations behind the napkin, the approximate budget for all these projects is just under $500 million and his $496.2 million.
During the award, Reid, CEO and President of Regina Exhibition Association Ltd. said: (REAL) stressed the need to act quickly and put the shovel on the ground. For this reason, the project was proposed and developed as such so that the plans could be “taken off the shelf” and submitted to various levels of government for funding.
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But still, a real schedule is the solution.
“Most of these projects, even if they move as quickly as possible, assume they won’t be ready until 2024 or 2025,” he said.
“He should assume that the average cost of the facility under consideration will increase by 32-38%.”
Beyond 2029 or 2030, Reid said, project costs could rise by as much as 62%, and beyond 10 years, inflation could push construction costs up to nearly 80%. There is a nature.
Simply put, everything is getting more expensive, and the Commission doesn’t think this trend will end anytime soon. Co-Chair of the Catalyst Committee and President and CEO of the REAL District, Tim Reed, will speak at a technical briefing at City Hall in Regina on Tuesday, February 28, 2023. Photo by TROY FLEECE/Regina Leader-Post
Hawkins said a “catalyst project” is defined by whether there is an arrangement with “external assistance” to fund and bring it to life. At this time, the Aquatic Center has plans and funding is imminent.
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One of the trends the commission has identified is growth within the city and the Regina area, Reed said, “by 2030, we’ll have a city reaching 300,000 people.”
Reed mentioned what Regina struggles with to keep people here: the “stickiness” of the city. In particular, they want to keep people here for two years or more, Reed said.
“We see a risk in our ability to retain employees,” he said.
Recommendations such as an event center in the direction of the city center quickly raise questions about limited parking spaces, but Reed says that as cities grow, alternatives will need to be found and connected He said trail he system and transit etc would help. “I think there is a huge opportunity for Regina on this trail system,” said Hawkins. Referring to this, Hawkins compared it to Calgary’s Riverwalk, which he said was available to everyone in the city.
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Trail has already raised $3 million. The funding is supported by a $3 million grant from the Feds to help cover transportation revenue shortfalls due to COVID-19.
Reed said the road will be developed in his three phases. First, “downtown along Sask Drive to he REAL District” will be improved. The second phase will essentially move from downtown to Wascana Park, and the third phase will significantly improve the existing trail system on the west side of town. ”
Hawkins stressed that funding for these projects must come through grants, partnerships, private and public funds, and loans. “Growth is important for the operational side of the budget,” he said, noting that these projects may require debt financing. But instead of using debt to buy groceries, he likened this kind of “good debt” to a mortgage.
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As for the actual acquisition of the downtown land for the arena that will replace Blount Center, the question is whether the city can acquire the land at market price or whether a premium will be paid for it.
“The risk here is that if developers think they can charge the city a premium, they are more likely to do so,” says Reid. But many of these landowners would benefit from having millions more people downtown.
“If we can’t do that, I think the country’s parliament will find it particularly difficult and could actually force other parts of the city to make arena decisions.”
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