Halifax Examiner

An independent, adversarial news site in Halifax, NS

The new convention centre is already a financial disaster for the city

The city expected to have a $1.8 million deficit on its Halifax Convention Centre account this year, but that figure has nearly doubled — to $3.5 million. And a revised analysis of the account shows that what had been a projected $5.89 million surplus after 10 years is now a $17.78 million deficit. That's a swing of $23.67 million. Worse still, even that forecast relies on rosy assumptions.

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The city expected to have a $1.8 million deficit on its Halifax Convention Centre account this year, but that figure has nearly doubled — to $3.5 million. And a revised analysis of the account (above) shows that what had been a projected $5.89 million surplus after 10 years is now a $17.78 million deficit. That’s a […]

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