Earlier this month the National Capital Commission (NCC) unveiled its proposals for a major project to transform the core area of the National Capital region over the next 50 years.

The NCC is the federal agency entrusted with managing federal lands, heritage properties and tourist attractions on both sides of the Ottawa River. It is unique in that it acts as a fourth level of government with decisions that directly impact taxpayers in Eastern Ontario and Western Quebec.

While the NCC's proposals received scant national media attention, they were the subject of extensive local coverage. But taxpayers across the country should be concerned since we all pay for its $128 million annual budget.

For the most part, the NCC does a fine job at maintaining Ottawa's beautiful green spaces and landmarks like Gatineau Park, the Rideau Canal and, of course, everything around Parliament Hill.

But their vision statement for the core of the city makes the Montreal Olympic Stadium mess look like a testament to fiscal prudence.

The focal point of the NCC plan is the widening of a 2 km stretch of Metcalfe Street that runs from Ottawa's main highway near the Museum of Nature north to the foot of Parliament Hill.

Some 15 city blocks would be demolished to accommodate a majestic boulevard 150 metres wide that would be lined with greenery and provide a panoramic view of Parliament Hill. The intent is to mirror the beauty of the Washington Mall or the Champs d'Elysee in Paris.

While majestic in design, such a proposal is the stuff of fantasy as opposed to proper urban planning. Currently Metcalfe Street is lined with office buildings, a library, churches, apartments and a smattering of retail. Buying up and expropriating the land, relocating commercial tenants and families, and demolishing countless properties is a prohibitively expensive undertaking.

Admittedly, downtown Ottawa is, at best, a mish mash of conflicting architectural styles that does nothing to inspire visitors or residents. But there is certainly no public appetite for a megaproject that would cost taxpayers billions.

Somebody forgot to provide the NCC's dreamers with a calculator. Luckily for them, we've done some quick math. It would cost millions to expropriate land and each expropriation would erode the City of Ottawa's commercial tax base. Then we add millions more for a tendering process and detailed design schematics. After all this, taxpayers would be asked to fork out billions for building demolition and new construction.

What's even worse, the NCC's record in development is less than stellar. To the west of the downtown core lies LeBreton flats, a 66-hectare tract of land that has sat undeveloped for over 30 years. And right in the heart of the city lies the Daly site which has sat empty and undeveloped for over a decade. Both of these properties, owned by the NCC, point to a great talent for thumb-twiddling and not much else when it comes to development.

Urban renewal is sexy and tree-lined boulevards are enticing. But money won't grow on these trees. Tax-payers should remind their MPs of this fact during the summer or call the NCC directly at 613-239-5000 and ask for the Chairman's office.