http://www.ottawa.ca/calendar/ottawa/citycouncil/csedc/2006/06-20/ACS2006-CCS-CSE-0005.htm
Here is the defeated motion at City Council - it was a $20,000 grant denied (reallocated to debt repayment).
It was $20K not $20M? Slight different there! $20,000 is pocket change to a major city. That's probably not an unreasonable cost of a major event.