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Originally Posted by killer_carlson
The most important question to ask is how much $$$ the Katz group actually put up at the start of construction.
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In actual up front dollars, Katz only put up about 20 million, if I understand correctly.
The other part of his 'investment' in the project comes from the 35 year lease of the building (unless that was also up front, and he pays no lease for 35 years).
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The Katz Group will pay the principal and interest costs for $112.81-million of their contribution as rent over 35 years. The remaining $17.9-million will be paid as cash.
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http://www.edmonton.ca/city_governme...agreement.aspx