Osaka city has released its FY2019 budget proposal in which a total of 163 million yen (about US$1.5 million) is earmarked for direct IR-related expenses. This part of the budget covers the costs for IR operator selection, application for a license to the national government, the holding of public hearings, and programs to combat gambling addiction.
These costs are not inclusive of the nearly 5.8 billion yen (about US$52 million) that will be devoted to Yumeshima and the surrounding areas for land and infrastructure development, which benefits both the IR project as well as the 2025 World Expo.
Over the course of the next seven fiscal years, the total expense of Yumeshima development to the Osaka city coffers is expected to rise to about 95 billion yen (about US$860 million).
The majority of these funds will go toward the extension of the Osaka Metro Chuo Line to Yumeshima and the construction of the new station, which are projected to cost local taxpayers 54 billion yen (about US$490 million) over the seven-year period.
Some of this financial burden may later be shifted to the IR operators and other beneficiaries of the Chuo Line’s extension.
The overall Osaka city FY2019 budget plan comes to more than 1.83 trillion yen (about US$16.7 billion), which is a 3.3% rise over the FY2018 figure. (AGB Nippon)