The project's cost is estimated at $1.6 million.
The end result of Doug Ford’s bid to sell off the Port Lands was a “consensus” motion at council that scuttled his preferred plan, but with the proviso that Waterfront Toronto launch a study of ways to speed up development in the area. It wasn’t—and still isn’t—clear exactly what options this study will be looking at, but now we know, at the very least, that Waterfront Toronto is taking it very seriously. City staff are estimating that the whole process will cost, in addition to staff time, $1.6 million, most of which will go to consultants.
The money will be coming out of Waterfront Toronto’s budget, so it won’t have any direct impact on City spending (the City, along with the federal and provincial governments, has already committed money to Waterfront Toronto). But, for context, $1.6 million is a little more than the amount of money councillors spent part of Tuesday restoring to the Parks, Forestry, and Recreation budget. That amount was $1.3 million, to restore Priority Centre youth programs and to avoid some user-fee hikes.