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Council could use available funds in this city budget to demolish the Coliseum, Mayor Don Iveson suggested Tuesday, pushing for a quick solution for the soon-to-be vacant building.

Northlands will stop hosting events in the 40-year-old landmark this year, shutting the doors and giving the keys Edmonton officials Jan. 1.

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Officials estimate it will cost $1.5 million annually to maintain the building, and many residents don’t want a boarded-up building attracting crime and bringing down the neighbourhood, said Iveson during the first round of budget debates Tuesday.

“We have to have a serious conversation about whether it’s financially in anyone’s best interest to board up a building whose time may be up,” he said, asking city officials to provide a report Dec. 5 on how much it would cost to demolish the building, and whether any “practical alternatives” have come forward to repurpose it.