Committee approves arena loan of $7.5 million

Natalie Alcoba writing in the National Post this morning has the news that City budget committee has agreed to loan the Leaside Memorial Gardens Arena expansion committee the money to finish the job.  The second ice pad at the Millwood Road arena complex has been a cherished and long-sought goal. Sadly, costs jumped and the management board had to seek City assistance. The Post story says: The expansion is expected to cost about $12.5-million and make up for some of the dearth of ice time in Toronto. The arrangement sees the city loan the arena board of management $7.5-million, and contribute $1-million to the project. Another $1.5-million will come from a provincial loan, while the community is raising the remaining $2.5-million. National Post