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Ward 12 Coun. Shane Keating, the Green Line project’s biggest proponent on city council, agreed.

“Is it in danger of collapsing or self-imploding? I don’t think so,” Keating said. “But there are going to be some very hard decisions made in May and June to make sure the project goes ahead.”

Farrell stood by her words Wednesday, stating the financing costs will affect whether or not the mega project is built.

“The debt servicing cost will add greatly to the cost of the Green Line. That’s with interest rates at a current low amount,” Farrell said.

“I don’t know how you could possibly think we can pay for it if we don’t find a way to fund the financing.”

Fielding briefed councillors on the debt servicing costs behind closed doors Monday during a debate about whether to take $23.7 million in tax room, which council ultimately chose to absorb indefinitely, return to taxpayers this year and decide at a later date how to spend the funds in future years.

Nenshi said Monday the $23.7 million would make a significant dent in the annual Green Line interest charges and Keating said that’s where he would like to see the tax room money go.

“That would give us a fair amount to go to exactly where we need it to go,” said Keating, who plans to ask citizens at the doorsteps if they agree.

Already, $52 million in tax room, which became part of the city’s tax base indefinitely in 2013, has been committed to the Green Line for 30 years.

While that makes up the city’s $1.56-billion commitment over 30 years, the project is still not funded by all levels of government and Fielding said it’s not yet known if the city will be on the hook for interest charges on federal or provincial commitments.

“You could surmise that there might be interest charges associated with that. That might be a charge against the city,” Fielding said.

In last month’s federal budget, Calgary received a commitment of $1.15 billion for the Green Line LRT over 11 years and an assurance from Ottawa the additional $450 million will come.

The province remains the odd man out when it comes to Green Line funding, though Premier Rachel Notley has said the government is “in principle” behind putting money toward the transit line.

aklingbeil@postmedia.com