Quote:
Originally Posted by Keith P.
Heck, $1.7 million is wasted by HRM on a regular basis with nary a notice. ...[/url]
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In this case, the 1.7 gets added to the 1.8 shortfall for which the city had planned. This means the shortfall almost doubled, and is not at 3.8m.
I've also heard that with all the office space now "online" in downtown, it's harder to attract tenants than the developer thought, meaning lower occupation than expected and lower taxes. The additional shortfall from the delay coupled with lower tax revenue in the future could be even more significant.