Quote:
Originally Posted by -TC-
you are missing the bigger picture dude, it's not about how much money Katz will or won't make/spend. he's rich now he will be rich later.
it's about how much money the rest of us can make because of the growth downtown, more development means more businesses which means more money overall...tax revenue, wages, opportunity for advancement, raising the proifile of the city which drives even more investment and drags more money in.
look at how many new develpments are already proposed for downtown...the arena is driving that development.
in the end we all benefit. besides, I'd much rather go to a game or concert downtown than way out in the northeast...that area is a dump
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I understand the bigger picture and I am not completely anti-arena. I was/am fully behind the 100M investment the city has already agreed to. It will help, however there has to be an end. The fact that Katz is already coming back with his hand out and the unsaid threat to move the team is too much.
The city had figured out what the benifit would be worth, how much they could afford to invest to assist in that, but it's not enough, and will never be enough. Ground isn't even broke yet and there are already overages.. what happens when this thing is half complete and another 20M is needed? Why should the city be held ransom to now house their office in his office tower?
It would be a nicety to have, it might rejuvinate downtown, then again it might just be empty office rooms and a nice pedway for the homeless to take shelter during the winter when there isn't an Oiler game on.
Living on the southside I hate having to travel all the way to the NE and fear getting stabbed everytime I walk around there. But the city can't let themselves be held hostage in this. They've pledged an amount and they have to stick to their guns on it. If that means its a little less asthetics and a little more form, it will still be better than the current arena.
But again, the actual increase in revenue will be very minor until this thing is paid off. Rexall is already home to sporting events, concerts etc and yes there may be a few more but overall the increase will be minor overall adn that increase will go to paying this arena off.
I'm happy the city helped get the project going, but I am not happy if they simply open the city's coffers every time Katz needs more money.