The City of Waterloo says more than $4.8 million has been spent on legal fees in connection with the RIM Park financing case to date.
The $4.8 million in litigation costs covers expenses from December 2003 to present. The city had been ordered to release the costs incurred from May 5, 2008 to Jan. 20, 2011 after a freedom of information request.
The city has spent the last eight years trying to recover an estimated $47 million in costs, damages and losses related to the financing of the RIM Park facility.
Waterloo Mayor Brenda Halloran says "We believe in the merits of this case, we are determined to continue to fight to recover the millions of dollars that the citizens have lost due to the RIM Park financing and so we will continue with this case and we are determined to win it."
The controversy started with the nearly $228-million price tag for RIM Park, when the city was only expecting to pay $113 million. Even after a settlement, Waterloo was still on the hook for an additional $33 million.
The city is suing the employees of MFP, the financing company that brokered the deal, and the city's former treasurer in an attempt to recover some of the money.
However, many residents don't see the merits of the big expenditure.
Taxpayer Cliff Jermy says "They're crazy, but then I think they're crazy most of the time so yeah, I think its $5 million down the tube that they will probably never recover."
Waterloo resident Erin Voigt says "I think that's a pretty high price that we've spent with nothing to show, especially if it's coming from our tax dollars."
And while most agree the new facility is an asset, there are concerns about the mounting legal costs.
"Maybe they should just say lets end it now and maybe try something else later or just say it's done, let our citizens stop paying for this," Voigt says.
Last year the city disclosed some of the legal costs, after it lost an appeal of the freedom of information order.
Halloran says "We were maintaining that principal and sticking to that principal of keeping all our litigation information confidential as our case is moving forward."
Meanwhile the city still owes $56.5 million on RIM Park, a debt that is costing taxpayers about $5 million each year, and is an expense that will continue for the next twenty years.