The New Brunswick government has signed on to be a tenant in a major development in downtown Fredericton.
The government will be the anchor tenant of a new office building, while the 40-year-old Centennial Building it currently occupies undergoes renovations.
Once the two-year renovation project is complete, some government workers will move back to the Centennial Building while others will stay in the tower.
The province will begin renting more than 145,000 square feet of space in the new office building in 2010 at an annual cost of approximately $5 million.
"This relationship will be a long-term relationship and one that will be beneficial for all concerned," Fredericton Mayor Brad Woodside said at a press conference on Friday.
Former premier Bernard Lord had announced in 2006 that the government was interested in using the office space as well as participating in Fredericton's $69-million redevelopment plan, which includes the office tower, a new convention centre and parking garage.
But at that time there were no firm details or a financial commitment from the government.
"It's one thing to get your picture in the paper. But when the announcement is made and the money is on the table, that's an entirely different story," Woodside said.
The government's participation in the project will help the capital city invest in strategic infrastructure and bring more economic development to the region, said Premier Shawn Graham.
The mayor said he is confident that when the project begins in June, the federal government will also have stepped forward with funding for the convention centre project.
City council approved the redevelopment project before securing funding from either the province or Ottawa.
The city is also still in negotiations with the province to secure further support for the convention facility portion of the complex.
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