Ottawa reaffirms pledge to fund Toronto film centre
Stephen Harper's Tories have reaffirmed a commitment of $25 million tobuild a new home for the Toronto International Film Festival Groupin the city's downtown.
The previous Liberal government had pledged $25 million for Festival Centre in April 2005. But after the Conservatives won the election in January, theydemanded a review of the project's business case before they would agree to honour the pledge.
Minister of Finance Jim Flaherty and Heritage Minister Bev Oda confirmed funding for the five-storey complex on Thursday.
"The cultural sector is one of the economic drivers of our cities and communities," Flaherty said in a statement.
"I am proud to deliver a firm commitment to fund Festival Centre and make important progress on this project, which will bring huge economic benefits to the Greater Toronto Area and strengthen the Canadian film industry in the global marketplace," he said.
'Cannow forge ahead': TIFFG
The announcement clears the way to begin building thecentre inToronto's entertainment district.
"With the solidification of these funds, Festival Centre can now forge ahead," said Piers Handling, TIFFG's director and chief executive.
Designed by Toronto architectural firm Kuwabara Payne McKenna Blumberg, the complex is scheduled to open in 2009.
$196M building to include 5 theatres
The building will have five theatres, a film reference library, a gallery, exhibition space and an education centre.
It also includesFestival Tower, a condominium project.
The total cost of the project is estimated at $196 million and $132 million has been raised to date, according to the TIFF Group.
The group runs:
- The Toronto International Film Festival, one of the world's top film festivals.
- Canada's Top Ten (the festival'slist of the top 10 Canadian films ofthe year).
- Cinematheque Ontario.
- Film Circuit.
- The Film Reference Library.
- Reel Talk.
- The Sprockets International Film Festival for children.
Pumps more than $67M into economy
A 2002 survey estimated TIFF Group activities generated more than $67 million in total economic impact annually.
The Festival Centre is expected to help multiply the group's impact on the economy in and around Toronto.
The federal money will come from the Canada Strategic Infrastructure Fund.
Several other Toronto arts groups that are building or renovating their performance spaces — including the Canadian Opera Company and Soulpepper Theatre — have approached Ottawa about a top-up for their building funds.