City needs $9.5M to finish St. Lawrence Market building

  • 📰 CBCToronto
  • ⏱ Reading Time:
  • 70 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 61%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Drone view of the new north St. Lawrence Market building on July 11, 2024.

The City of Toronto is poised to drop $9.5 million in emergency spending to keep construction of the St. Lawrence Market north building on track — and a serious internal management issue is partly to blame, a document obtained by CBC Toronto shows.City staff say emergency funding is needed to open the new St. Lawrence Market north building this year. The City of Toronto is poised to drop $9.5 million in emergency spending to keep construction of the St.

The spending is also needed to stop the contractor, the joint venture Buttcon-Limited/The Atlas Corporation , from exercising its right to terminate the deal and delay the project indefinitely."An Emergency is the only course of action available that would allow the City to meet its immediate legislated payment obligations, while mitigating the threat of a stoppage in work and legal action from BA-JV," the document from June 10 states.

"All changes were validated by the project's Contract Administrator and were determined to be legitimate and required to support evolving building needs." Change orders are costs that arise during a construction project that are above and beyond what was initially contracted. In an email, the City of Toronto said they are common on large capital projects.

CBC Toronto asked the city if the employee in question was terminated. The city said it doesn't comment publicly on personnel matters.The north St. Lawrence Market building redevelopment has been years in the making, with construction beginning in 2016 to replace the old, low-slung brick building that most will associate with hosting farmers' markets and antique sales.

Some details about how the building's redevelopment hit this latest setback were revealed at a July 2 meeting of the general government committee.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 51. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Nvidia tops Microsoft's market cap, weather risks' impact on housing: Market DominationOn today's episode of Market Domination, co-hosts Josh Lipton and Julie Hyman explore Nvidia's (NVDA) market cap dominance, trending tickers, and the impact ...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

Market leadership in flux, bitcoin in trouble: Market takeawaysYahoo Finance's Jared Blikre joins Asking for a Trend to break down his key takeaways from the trading day. Blikre explains that stock market leadership is...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

Amazon's $2T market cap, jobless claims: Market trendsYahoo Finance's Josh Schafer joins Asking for a Trend to break down his biggest takeaways from the trading day. Amazon has reached a $2 trillion market...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

Market tech concentration may persist for years: Market trendsMarket concentration continues to narrow in on Big Tech. With no large catalysts, the market can maintain this pattern for some time, data suggests. Still...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »