Saskatoon’s Administration is recommending that City Council wait until August 14th to review a payment plan for the proposed downtown event and entertainment district. The document was supposed to be presented at tomorrow’s meeting.

According to a report, Administration needs additional time to wrap up talks with a private partner. This partner would provide funding for construction in exchange for the chance to operate one or both the new arena and convention centre.

The DEED funding plan is an important paper for council to review, as its approval would allow city staff to start arranging federal and provincial funding, as well as commencing on a significant renovation to TCU Place and the surrounding area.

If the delay is approved, council will hear the funding plan, and receive an updated cost estimate for the project in mid-August. An estimate from 2018 placed the cost of the arena and convention centre at between $330 million and $375 million, however the update will account for inflation seen in the construction industry.