Fort York museum to now cost $23 million

Speaking of Toronto heritage, the cost of the city's Fort York museum is now $4 million over budget.

The museum, which will pay tribute to early-19th-century Fort York, is now going to cost $23 million according to last week's updated budget, up from the $18.9 million last projected. The project depends on $5 million from each of the provincial and federal governments.

While it may be unnerving that only the federal government has committed to paying up, approving an unfunded project is already old news for city council. Even if council receives the government funds, it still needs to collect just under $10 million from private fundraising and fees from private development.

Bah! What's a mere $15 million? Just a little debt-financing and a city on the hook.

"Council endorsed the project last week, and the project team is going full steam ahead," said Terry Nicholson, the city's culture and heritage manager.

"When you're painting the Mona Lisa I don't think you will worry about a little more detailed outcome," added deputy mayor and mayoral candidate Joe Pantalone. "That's what I think this is going to be: The Mona Lisa of heritage."

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