As Montreal gears up for its first Formula E electric car race, Montreal Mayor Denis Coderre is defending the event amid criticisms that it was poorly planned and is costing taxpayers too much.

Coderre believes the race highlights the importance of green technology.

“It’s not just based on a race,” Coderre told reporters Wednesday morning. “It’s a mission and we’re sending a strong message about sustainable development and sustainable mobility.”

Montreal’s Formula E race, an all-electric alternative to Formula One taking place downtown July 29-30, is set to cost taxpayers $24 million and has drawn criticisms for disrupting local businesses and traffic as organizers set up.

“It should have been done better. There should have been better ‘planification’ and organization and there should have been a better deal and this is a very bad deal,” opposition leader Valerie Plante told CTV Montreal Tuesday.

Plante said the race could have been held at the Circuit Gilles Villeneuve, where the Formula One race takes place.

But Coderre dismissed the suggestion, saying that it would cost millions to adapt the track for the Formula E race. Coderre added that much of costs are related to first-time expenses, which included spending $7.5 million on barriers alone.

“The blocks I’m sorry that's an investment on six years, so it’s going to be useful not only for Formula E, Formula One but it’s the nature of the beast, we’re talking about safety, so when we have major event’s we can use them,” he told reporters.

Patrick Carpentier, a spokesperson for the Formula E race, also added in an interview with CTV Montreal that if Montreal wanted to even host the race it had to be done on city streets.

Business owners have also complained about the disruption. One restaurant owner told CTV Montreal that he will lose out on $20,000 to $30,000 because he has to close his restaurant’s terrace for 12 days.

According to CTV Montreal, the city has offered affected parties $2,000 in compensation.

Coderre said Wednesday that many businesses are content with what they’ve been offered but some local merchants told CTV Montreal that this wasn’t nearly enough to offset their losses.

Despite the criticism, Coderre insists Formula E is a long-term investment for the city.

“Montreal is on the map, it's an investment for the long term," he said during a news conference at Montreal’s City Hall Tuesday.

He has also defended ticket sales, telling reporters he believes the event will be sold out.

Montreal has agreed to host the event for three years, with an option of holding it for an additional three years.

With files from CTV Montreal