Charlottetown city council has awarded a contract to an Ontario firm to study how a proposed multi-use sports and entertainment facility could be funded.
The contract for $105,000 was awarded to Sierra Planning and Management.
Coun. Alanna Jankov, who chairs the strategic priorities and intergovernmental co-operation committee, said Sierra Planning's bid was $18,000 higher than the one other bidder, but was chosen for its knowledge about these types of projects.
"They will be trying to identify whether there is actually money out there in the levels of government, as well as in the private sector to actually fund such a build, if it were to happen," she said.
"They are also going to identify the exact cost. The other part of the scope of work is identifying an operational funding model."
In addition to looking at funding, the study will also consider the best locations.
Jankov hopes the report will be complete within six months. She said if the report comes back with viable options, the next step would be to hold public consultations.
When estimates for a new Charlottetown sports complex were first drafted in 2017, the price tag was estimated around $80 million for a facility with two ice surfaces, 5,000 seats and some retail space.
The city has said it will eventually need to replacing the aging Simmons Sports Centre and Cody Banks Arena.
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