Quote:
Originally Posted by Sidney Crosby's Hat
The money the city is putting up comes from the CRL (community revitalization levy) which is essentially a percentage of money from expected increases in property taxes and new property taxes as a result of the arena being built*.
That and a ticket tax which currently goes straight to the Oilers. It would instead go to the city.
* An even larger percentage of the CRL is going to downtown/Jasper Ave revitalization.
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So this is an independent fund then that would actually cover the gulf in the funding?
But, then again, doesnt the Edmonton City council decide how to spend this money and then would effectively be taking it away from other municipal publics works projects? Which they sound like they're not willing to do?
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