Updated: 17 November
The State and Federal governments have announced a combined $25 million in funding for the Cairns Performing Arts Centre: $15 from the Federal Govenrment under the National Stronger Regions Fund, and $10 million from the 2016/17 State budget.
The funding commitments allow Council to reallocate $25 million to other community projects.
Updated: 16 December
The original estimates for The Precinct project – which includes Munro Martin Parklands and the Cairns Performing Arts Centre – was $65 million.
Once the full scope of the project was done and design completed, the cost of Munro Martin Parklands was increased by $2 million.
The estimated cost of the CPAC was based on the concept only. Once detailed discussions were conducted with the users of the facility, changes were made to the original concept to fulfil these desires, incurring additional design costs and some costs to the construction of the building.
The CPAC has been costed at $66.5 million taking into account $53.2million to construct the building. Additional funds have been allocated to cover design costs to date and in the future, management of the contract, and an appropriate contingency fund.
The cost to deliver The Precinct project is $76.5 million.