City Needs More Funding To Repair Sea Wall On Old Coast Guard Site
SAINT JOHN— The city is submitting a new funding request to the province for help with upgrades at the old Coast Guard site on the waterfront.
The upgrades, which include repairing and building up the sea wall, are necessary for work to start on the Fundy Quay housing and commercial development. The city is asking the province to cover 30 per cent of the $8.1 million sea wall refurbishment, in the form of capital contributions of $1.25 million in both 2020 and 2021.
The federal government has already committed $3.2 million through the Climate Change Adaptation and Mitigation Fund.
The city says it’s a good deal for the province. It estimates that fiscal returns for the province will be six times greater than returns for the city, while the infrastructure commitments would be roughly equal.
RELATED: Local Company Plans Commercial, Residential Development On Coast Guard Site
A staff report says the province will see a significant return of investment, as the work and subsequent development will generate over $45-million in provincial revenue tax, and create almost 3,000 new jobs.
It also means the city could save around $2.4 million in capital costs.
A letter has been sent to Attorney General Andrea Anderson-Mason to explore and approve the request.
MP Wayne Long says he believes the federal portion of the work should get underway this spring.
The repairs are expected to be fully completed by 2022 or 2023, depending on the scope of work and how much detailed work is required.
A feasibility and design study is currently in the works.
Danielle McCreadie is a reporter with CHSJ/Country 94, a Huddle content partner.