The city isn't putting any money into these renovations. This has been made very clear. Andlauer's proposal required $126M of taxpayer money, at the very least, for a building that would be controlled by Andlauer's group built on land owned by Cadillac Fairview.
So I believe this is inaccurate.
Part of the deal would have see Cadillac Fairview sell the land to the city for $1 in return for building a parking plaza which was part of the $126M number, of which Andlauer was willing to front $30. We would have gotten an arena of appropriate size and Fairview outright said, they would use this as a catalyst for a hotel and convention destination at Limeridge, which is really an ideal location for it.
Now instead, that $30M is going to go to Brantford who are looking to build an appropriately sized arena and are already seeing some of that money in upgrades and new lease, while we are effectively giving away First Ontario to the Mercanti's to turn the facility into a concert venue (which they admit concerts will be their "anchor tenant" which is a joke given how hard it is to draw concerts from Toronto) in an oversized arena the currently only opens the upper bowl for 13 of 98 events it holds a year, and their latest renderings show basically next to no work being done on the outsides apart from a coat of paint and some ad boards.
It's a complete joke, that our previous council allowed this debacle to occur. First Ontario is a white elephant, simply being too large an arena for anything but an NHL team, which Buffalo and Toronto will never let happen.