Quote:
Originally Posted by Northendzone
and what would be wrong with that? does every project need to be a cadillac?
from the article the funding is outlined as: $100m from Katz, $125m from a ticket tax, $125m from the city and the shortfall ($100m) from the province. so to summarize - Katz is kicking in 22% of the cost and the remaining 78% is coming from the taxpayer - directly and indirectly (via the ticket tax) - nice deal. PErhaps the next time a major oil company builds a hed office, the government should provide similar funding. Maybe the government can provide me with a tax break and help me out with my monthly expenses instead of just dreaming of new ways to tax me.
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Although right now the ticket tax money goes straight to the Katz Group. In this new plan, the ticket tax money goes to the city so in essence, Katz is paying $225 million or exactly half.
This is a really good (but long) read on the issue and what the hang-ups are right now:
http://blogs.edmontonjournal.com/201...arena-project/