If I recall correctly, SIPP gets about $800K a year in funding from local munis with about $200K of that coming from Victoria. With new mayors and councils across the region and budget discussions starting, it is very good timing to have a positive announcement.
I wonder how the progressives rationalize this. If the announcement is true and there will be hundreds of high paying tech jobs coming to downtown Victoria then won't that cause housing prices to shoot up? How will the average UVIC associate prof afford anything?