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The City of Ottawa’s Audit Committee met today to review a follow-up report of the Lansdowne 2.0 redevelopment proposal.
The report by the Office of the Auditor General (OAG) is a follow-up to the 2024 Agile Audit of the Lansdowne 2.0 Redevelopment - Sprint 1. The new report reviewed the status of a recommendation for the City to update future assumptions and financial projections of Lansdowne 2.0.
The Audit Committee heard today that the OAG now considers that recommendation complete. The follow-up report made three additional recommendations to better manage risks.
The new recommendations relate to managing the risk to the construction cost and contingency; clarifying the project’s affordable housing contribution with Council; and ensuring financial projections are reviewed and reported to Council annually.
City staff confirmed their agreement with each of the three new recommendations.
Staff committed to providing semi-annual construction status updates to Council beginning in 2026, and to continue providing annual updates on the financial projections for the City’s partnership with the Ottawa Sports and Entertainment Group. These updates are contingent on the Lansdowne 2.0 report being approved by Council at its special meeting scheduled for Friday, November 7.
The staff report to be considered by Council is the sixth report in the step-by-step approval process for Lansdowne 2.0, following Council’s 2021 decision to replace TD Place Arena and the north side stands.
The project centres on replacing the existing arena with a new, municipally owned event centre and rebuilding the north side stands. The plan also includes the construction of a new retail podium, which will remain City-owned, and the development of two residential towers by a private developer.
You can read more about the redevelopment proposal on Engage Ottawa.
查看原文...
The report by the Office of the Auditor General (OAG) is a follow-up to the 2024 Agile Audit of the Lansdowne 2.0 Redevelopment - Sprint 1. The new report reviewed the status of a recommendation for the City to update future assumptions and financial projections of Lansdowne 2.0.
The Audit Committee heard today that the OAG now considers that recommendation complete. The follow-up report made three additional recommendations to better manage risks.
The new recommendations relate to managing the risk to the construction cost and contingency; clarifying the project’s affordable housing contribution with Council; and ensuring financial projections are reviewed and reported to Council annually.
City staff confirmed their agreement with each of the three new recommendations.
Staff committed to providing semi-annual construction status updates to Council beginning in 2026, and to continue providing annual updates on the financial projections for the City’s partnership with the Ottawa Sports and Entertainment Group. These updates are contingent on the Lansdowne 2.0 report being approved by Council at its special meeting scheduled for Friday, November 7.
The staff report to be considered by Council is the sixth report in the step-by-step approval process for Lansdowne 2.0, following Council’s 2021 decision to replace TD Place Arena and the north side stands.
The project centres on replacing the existing arena with a new, municipally owned event centre and rebuilding the north side stands. The plan also includes the construction of a new retail podium, which will remain City-owned, and the development of two residential towers by a private developer.
You can read more about the redevelopment proposal on Engage Ottawa.
查看原文...
