Ontario gives millions to Bell Lightbox
Complex will house Toronto Film Festival headquartersTORONTO -- The Ontario provincial government on Thursday poured another CAN$10 million ($9.1 million) into Bell Lightbox, the year-round headquarters for the Toronto International Film Festival now expected to open in time for the 35th edition in September 2010.
The new money comes on top of the CAN$25 million ($22.6 million) already given by Ontario to the five-story festival home.
The festival is building the cinema and condominium complex in partnership with Hollywood producer Ivan Reitman, his sisters Susan Michaels and Agi Mandel and real estate developer the Daniels Corp.
The Ontario government's latest contribution to Bell Lightbox also brings Toronto to within CAN$37 million ($33.5 million) of its CAN$196 million ($177.5 million) fund-raising goal to cover construction and capital endowment costs.
The recession has left Toronto festival organizers hard-pressed to successfully complete their corporate fund-raising campaign.
The 34th Toronto International Film Festival is set to open September 10 for a ten-day run.