Kamloops arena project may reach $154M

Construction is a year away for an upcoming Kamloops arena, but the projected cost has already climbed from the last estimate.

City hall expects the cost could reach around $154 million for the Dufferin area multiplex, which is slated to host four ice sheets and to open in 2030.

That’s $14 million more than previous estimates, but the city has since lined up contractors and factored in inflationary costs.

A court challenge against the multi-million dollar loans delayed the project by six months and led to $5 million in inflationary costs. The other $9 million is debt anticipated due to inflation as the project continues, according to a staff report.

Last year, a BC Supreme Court judge tossed a civil court claim that challenged the method city council used to approve $275 million in debt. City hall has since said that increased costs for both the arena and the performing arts centre. For the latter, an eight-month delay saw the budget increase by $7 million.

City debt will account for at least $116 million toward the arena, $4 million will come from reserves and donations are expected to fund another $20 million, according to the staff report.

Still unaccounted for is a library addition to the multiplex. It could see city costs increase, but it would also get funding from the Thompson Nicola Regional District. It may also include a mini-rink which is so far not included in the budget.