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Originally Posted by Toronto News - The Real Price of the Markham Arena

Taxpayers are often allergic to open tax funding for pro teams, so this gift is shielded. Property taxes won’t be used on the project — unless it bombs, and then, the doomsday scenario sees taxes going up a maximum $160, spread over seven years. It’s unlikely to happen. Development will continue in Markham, providing new revenues from new, jacked-up development fees earmarked for the arena.
Still, tax dollars prop up this project.
• Graeme Roustan and GTA Sports and Entertainment will design, build, operate and lease out the arena for concerts, sports and other events. But the city is to own it — freeing the arena of paying property taxes.
• Almost half of Section 37 money — funds all developers donate to the city in exchange for increased height and density — is diverted to the arena and will not be available for other city projects.
• Development fees will double on new homes — adding $2,000 to $6,500 to the price. Worse, adding these development fees limits the town’s ability to add future fees for city-run projects.
• The deal demands paid parking for arena events so Markham can get a share of the revenues to service the debt. Ditto for a surcharge on each ticket to the event.
Such is the price of putting Markham on the map. It’s not enough to be known as green, tax low, well-managed and one of Canada’s richest municipalities.

http://www.thestar.com/news/article/...-markham-arena