Quote:
Originally Posted by old-fart
Can someone tell me where the $$ was supposed to come from for this arena? I'm not trying to be a smartass, I just haven't seen it itemized.
If the arena was originally supposed to cost $425M, and Katz is putting up $100M and the city is putting up another $125M, where is the other $200M coming from? Or do I have my numbers wrong?
I don't think Katz was asking for the other $200M to come from the city too, was he? Or are they both planning on provincial/federal funding as well?
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The original price tag was going to be $450M.
Katz would pay $100M, the city $125M, $125M from a facility fee/ticket tax, and the final $100M was never accounted for.
The assumption was that they'd be able to get the provincial and/or federal government to provide that money, but both levels of government have consistently said no.
Since then, the estimated cost has gone up another $40M, and no one has agreed to pay that money either.