This proposal has been suspended indefinitely. More information here.

Making the dollars count.

The fine print. Explained.

The Square; a smart, well-planned and long-awaited, reimagined development in the heart of our City. The community benefits are easy to imagine.

Two corporations working together

Two corporations working together.

The City of Airdrie is the controlling corporation responsible for financing, debt, applying for and receiving grants, the loan agreement and receives dividends.

Airdrie Main Street Square Real Estate Inc. manages the downtown space required for civic needs, builds the structures, manages the real estate and pays dividends to the City of Airdrie.

Highlights of AMSQ overall costs and capital budget for Phase 1 and 2 of The Square

2016

$132,564

Human Resources

2016

$2,111,200

Detailed Design

2016

$1,052,000

Underground Servicing

2017

$12,088,121

Building – Office/ Retail/Church

2017

$20,226,520

Building – Library

2017

$1,022,556

Civic Plaza

2018

$10,706,452

City Hall Space

2018

$671,723

Build Roadways

*Human Resources : 2016 – $132, 564 • 2017 – $262,885 • 2018– $265,514 • 2019 – $63,061

Overall Cost

Phase 1 and Phase 2

$48,855,162

Pro forma statements.

Projecting future costs and returns.

Ernst & Young Orenda Corporate Finance Inc. produced a Commercial Retail Feasibility Study and a Financial Analysis that examined the potential scale, costs, and revenues associated with the proposed Civic Centre.

A 25 year cash flow model was developed for The Square. Employing cost assumptions provided by planning consultants, 02 Planning + Design, in addition to those published in the Altus 2015 Cost Construction Guide, the model assumes that The Square will be created and operate as a publicly funded and managed development company.

Resources

AMSQ pro forma income statement View PDF

AMSQ pro forma balance sheet for the five-year period 2016 – 2021 View PDF