05-23-2012, 08:07 AM
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#192
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First Line Centre
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http://blogs.edmontonjournal.com/201...h-better-deal/
Quote:
In short, there are two key differences between the Seattle deal and the Edmonton deal. The first, the big, eye-catching one, is a huge difference between the money paid by the public sector and the private sector, illustrated by the charts above (this includes the $25 million spent on arena land in the case of Edmonton, to match the money spent on arena land in Seattle).
The second huge difference are the conditions. Seattle gets a more beneficial arrangement for their old arena. All of Seattle’s money comes in the form of loans that are repaid directly from arena revenue. In Seattle’s case, the private money is borrowed privately, rather than from the city. Seattle has no hidden subsidy through a “marketing agreement.” All of Seattle’s public money has already been accounted for.
In Seattle, the public governments involved seem to have negotiated a heck of a deal. In Edmonton, the private investors involved seem to have negotiated a heck of a deal
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