This allocation of funds for the Montreal Olympic stadium roof update is another example of misusing taxpayer money, especially for the citizens of Quebec, particularly Montrealers. The budgeted amount of $870 million is a massive waste considering the stadium will be closed for four years, resulting in no revenue generation. In reality, when factoring in the loss of revenue (even if it's a small amount at $23 million), the actual budget is closer to $1 billion. It is unclear if this budget includes any additional renovations required inside the building. And as we have seen with most city projects, the final cost will likely end up being closer to $2 billion.

Once the renovation is complete, the stadium will be over 50 years old. This building has been problematic since its inception and only generates $23 million in annual revenue, as reported (which is possibly an inflated figure). The forecast suggests that revenue will triple with the new roof, as more winter events can be guaranteed due to the relaxation of the snow regulation, which restricts events when there is more than 3 inches of forecasted snow. However, this claim seems questionable, considering the poor acoustics for concerts and the unfavorable location for major events. Even with tripled revenue, it will take 20 years to recover the cost of the roof, which is expected to last only 10 years. In essence, the revenue it will generate in 10 years will be around $700 million, while the roof itself will cost over $1 billion. This investment simply does not make sense for the community.

Furthermore, it is estimated that the cost of tearing down the building is $2 billion, which is an inevitable event in the not to distant future. However, this estimate has been challenged by various organizations, and should be revisited with some alternatives in mind. One possibility is to demolish the stadium concurrently with the approval of another major and practical project(s) that require a significant amount of concrete and metal material. This way, the materials from the stadium can be recycled for use in the new construction, reducing the demolition cost. Alternatively, the land could be sold to the private sector to address the substantial shortage of affordable housing. We need to have some experts in this space do further analysis to help make the demolition a more financially viable solution.

Regardless, the financial aspect of this project does not add up, and it does not contribute to improving the lives of Montrealers / Quebecers. There is no time to waste, and it is essential to question the motives behind this decision. It is possible that certain interest groups or individuals stand to gain significant profits from this project. It is high time to revisit the Charbonneau Commission and investigate this situation of excessive spending.

Let's put an end to this financial burden known as the "Big Owe."

STOP the BIG OWE, put a financial lid on it, enough is enough!

PS: Above is a draft that needs to be fact checked. However, the essence of the message is representative of the situation to muster support for the petition. Please feel free to contact me to help spear head this petition. Targeting for  a final version by Feb 15th. 

Claudio