One city councillor describes it as a "win-win."
Phil Squire says he will support a recommendation by the Community and Protective Services Committee to approve an $800,000 grant to the London Optimists for their planned $7.8-million expansion to the BMO Centre, the indoor soccer facility on Rectory St.
The expansion will allow the club to vacate the soccer dome it leases on Cuddy Blvd., which would allow the city to sell that land.
"We can get about $575,000 for that property," says Squire. "We'll also get development fees (for the BMO Centre expansion) of up to about $700,000 and we'll get ongoing increased taxes. The city is going to give $800,000, but we're going to get back somewhere close to $1.5-million."
Squire says he would like to see an agreement reached in which, if the Optimists ever wish to relieve themselves of the facility, the city can take it over.
The committee's recommendation still requires the support of council.
The Optimists are also approaching the provincial and federal governments with requests for funding.