The Lloydminster events centre, the Cenovus Energy Hub has been approved for a $4,712,469 increase by the city to complete its build.
On Monday, Council approved the new cost to construct the facility at $98,637,719 with a contingency of $2,668,457 excluding GST. Council also approved the contract value for PCL Construction Management for $86,665,315 excluding GST. The previous budget was for $93,925,250.
The council documents list some of the increases as groundworks and foundations along with general construction costs.
Mayor Gerald Aalbers said they have received figures from 90 per cent of the tenders and they are “slightly higher than budgeted for.” He lists factors like inflation, carbon tax, and supply challenges as impacting the cost of construction.
