Quote:
Originally Posted by Beatle17
Sorry but this part kills me in every argument. The City spends money on infrastructure for every business in Calgary via road improvements, sewer and electrical. This is the infrastructure everyone means, so even if they want to develop the area for housing and business they need to spend this money, nobody should be making this out to be that the City is spending money for the Flames owners. They will be spending money to get a business to invest in the city and pay taxes. Everyone should remember also that the City gave the land away to the developers for the East Village to get something started in the area, which will take another 10 years before we see any tax money recouped in the area.
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The land was/is sold at market value to developers. The only land that was really gifted was for the Library and National Music Centre). Also, tax dollars are already being collected as the CRL area is larger than East Village Proper (Rivers District CRL) and includes buildings like the Bow and also south of the tracks and captures projects like Guardian, Nuera, etc). New condo projects and hotel in East Village are starting occupation next year, so those will start paying back the CRL loan as well. Development is happening at a pretty rapid pace, so will likely pay back quicker than anticipated.