Following our first community consultation, the TCC’s construction cost estimate of a community centre that would meet the requirements of the community (approximately $40M) was based on 2019 construction costs. Based on this estimate, we applied for an ICIP grant to meet 70% of the construction costs. In 2022, we procured a Project Management Office and a Prime Consultant (architect). The consultants advanced the design of the building based on the wide consultations the TCC had conducted among individuals and community organizations. The project team completed an updated construction cost estimate which came in considerably higher than our 2019 application budget. Since the 2019 budget, there have been significant material and labour increases which have had an approximate 37% increase from Q1 2019 to Q3 2022, according to Statistics Canada. These increases are reflected in the current estimates of the construction costs. Similar construction projects are experiencing the same difficulties. The project team has exhausted options to maintain the project within the original approved budget and requires Board approval to amend the design scope of the project to work towards meeting the budgetary requirements.
We are fully dedicated to completing the project. We have written to the Provincial and Federal Governments to see if they are considering increasing funding caps towards ICIP projects in consideration of rising construction costs. We are also exploring potential government grants that can assist in mitigating these increases.
With this increased construction budget, we need your help deciding how we should move the project forward. Please take five minutes to fill out the online consultation below and share widely with your family, friends, and network.