An independent report has revealed that the proposed AFL stadium in Hobart, Tasmania, is facing a significant cost blowout, potentially running into hundreds of millions of dollars.
The Tasmanian Planning Commission's assessment suggests that the benefits of the stadium have been overstated while the costs have been underestimated. The state government had pledged to cap its contribution at $375 million, with additional funding from the Commonwealth and the AFL. However, the report questions the economic viability of the project, noting that the projected 238 ongoing jobs offer limited return on such a large investment.
The cost concerns now pose a serious threat to the future of Tasmania's new AFL team.
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Report says Hobart AFL stadium faces cost blowout of hundreds of millions of dollars
The Liberals have repeatedly pledged to cap their spend at $375 million, with $240 million coming from the Commonwealth and $15 million from the AFL. The report also said the government’s claim of 238 ongoing jobs was a relatively small benefit considering the size of the project.
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