Cost of roof higher than stated

According to Vaughn Palmer over at the Vancouver Sun, the new cost of the roof on BC Place is actually $513m. The announced $458m doesn't include the $55m that has been spent already in getting the stadium up to standards for the Olympics. Here's his take on it:

In a piece last Saturday's Sun on the cost overrun at BC Place, I noted that the budget for renovating the domed stadium and adding a new retractable roof had escalated from the "up to $365 million" approved by treasury board last year to $458 million in the fixed-price contract announced Oct. 23.

But a complete financial picture would also include the amount that has already been spent to bring the stadium up to standard for the 2010 Games, namely an estimated $55 million.

If added to the amount announced last week, the dollars already spent would push the overrun ($513 million versus $365 million) to 40 per cent.

Or, if you prefer, count it as another $55 million taxpayer contribution to the ever-escalating cost of staging the 2010 Games.

But don't hold your breath waiting for the B.C. Liberals to concede either possibility.

vpalmer@shawlink.ca