Although it's the first major cash commitment from a senior level of government, it falls far short of the $230 million the city had been seeking from the province for a proposed stadium/downtown redevelopment project.
To make up some of the shortfall, the province says it's open to giving the city a loan.
Under the city's plan, the stadium would be one part of a $1-billion development that also includes housing, commercial and office space. The private sector is supposed to come up with about $600 million of that.
The new stadium would be built by 2016 on what's currently railway land, just north of the downtown.
The city is pushing for an open-air stadium, as Mosaic stadium in now. However, the province says it wants a roof-ready stadium — it doesn't have to be covered right away, but it should be an option at some point.
With a stadium in a new location, the old Mosaic stadium grounds west of downtown would be redeveloped into 700 new housing units, plus commercial space, green space and public areas.
The city says its share, including the value of contributed land, would be about $88 million.
It's also hoping to get $30 million from Ottawa.
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