There's definitely a place for taxpayer funded facilities. Edmonton's is 50% public and 50% private. The city's contribution is less than it was for the Terwillegar Rec Centre in the SW part of the city and the building includes a community rink. The city benefits as 30% of new property taxes (as a result of the arena district) will go towards the building and the other 70% will go towards revitalizing Jasper Ave.
Something along those lines, where the city isn't in too deep -- $125 million or so -- would be a benefit to the community. You can't have a 100% private facility, it doesn't work in a city this size. Ottawa and even Vancouver went bankrupt using such a model.
The city has a stake in this, too. Like Table 5 said the Flames play a huge role in defining Calgary.
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