Recent news on funding True North Square

Recent news on funding True North Square

True North Square will get even more funding from the city than it was agreed earlier.

Mayor Brian Bowman together with committee members voted for several changes in the funding agreement. This meeting took place on Wednesday, September 12.

The province announced its revision of funding and asks the city to do the same. The most important changes should occur in the tax breaks the residential towers and hotel will get.

On Monday, the province said that it supports the idea that part of the accommodation should get additional funding. On Wednesday the city agreed with the position of the province and said that it would allocate $8 million in tax breaks.

The mayor of Winnipeg said that it is very important to maintain a partnership with the province and he will help it in all ways.

Winnipeg will join the provincial expenses on equal terms, although last year it was decided that the city will participate only by 30%. As it became known, Winnipeg's contribution will be more than 2 times bigger than it was agreed in 2017.

The last discussion of this issue will be on September 20 to agree on all the changes officially.

MORE NEWS:True North Square and the adjacent Sutton Place Hotel can receive millions of dollars of public money

True North Square additional funding mayor of Winnipeg
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