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Originally Posted by Kavy
Also sort of agree, except this isn't Edmonton and our Arena is already in a great location, new property taxes won't be as big of an impact, even more so since just north of the current location is already being re-built by the city rezoning.
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Obviously the Edmonton and Calgary arenas will be structured differently. That was just an example I gave to show how a project like this could benefit other aspects of the city.
Also, I have a feeling that Calgary's rink won't be in the same area it is now. Just a hunch due to all the secrecy surrounding it that it's on land that they're currently still trying to acquire. The secrecy is so the price doesn't go up, of course.
Quote:
Originally Posted by Kavy
However, my understanding of Edmonton's deal is that the oilers went sleezy, and please correct me if wrong. Edmonton has to contribute x millions of dollars, but then also pay 100% of the tab for community hockey arenas which will be owned by the oilers... that doesn't make sense to me.
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The community rink is part of the ~$450 million tab. On top of that, the Oilers are also paying half the cost of the +15 which will go across 104 ave.
The city will 100% own every part of this project, including the land which Katz has sold back to the city at the same reduced rate he bought it for years ago.
Quote:
Originally Posted by Kavy
I am all for helping our owners, but not with free money, as long as there is return on the investment which is greater than or equal to 0 (i.e. a loan with a interest rate equal to that of the bank of Canada prime rate or something).
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In the case of Edmonton, the city is expected to make over $1.2 billion throughout the course of the agreement which is a pretty solid return.