The funding wasn't coming from the council through, it was effectively a loan paid back through business rates or something. They weren't ploughing £90M in, unless something's changed. Granted, there's been a hell of a lot of pish written (from both sides) about this whole debacle.
I would have liked to have seen something decent happen, but didn't think the "winning" design was the best.
I don't believe that Labour have a mandate to bin it, given that the majority voted to take it to the next stage, which may or may not have lead to it being built but it should be going to the next stage IMHO.
Union Street is a street of closed shops and bookies, we could do with something decent in Union Terrace Gardens.