Quote:
Originally Posted by heep223
The land currently has negative value. The city gets the land AND the building for 200M, it gets cleaned up, could be worth a lot of money in 20 years. Who knows maybe the prov and fed and Flames kick in for cleaning.
The city will own a bunch of prime land in a great area with a whack of commercial development, condos, and you don't think that's a factor?
The point being, man, that you're taking a polarized view on a very complex issue with a lot of uncertain variables, and insinuating people who have a different view than you need to educate themselves, including people who have way more knowledge of this than you like 2 city councillors who appeared to be quite supportive today.
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You are being simplistic:
- 200 (really a minimum of 450) million for a 800 million dollar stadium? SCORE; however, you fail to recognize that the value is not what it was built for but what it could be sold for. Look at the history of the Skydome. Built for 900 million (in 2015 $), sold to the owners in 1994 for 150 million and then to Rogers for 25 million. These stadiums are not office towers. They don't appreciate in value.
- the flames are not kicking in for the remediation. I guarantee that is not in there proposal. Why? they dont own the land, they dont want to be liable for any issues. Any lawyer worth their weight would make sure they are no where near that. Again, the fed and prov kicking in money is still our money.
- The area can be remediated using any number of funding sources that doesnt involve sticking a sports complex on it! the area definitely needs to be cleaned-up but it is wishful thinking to suppose the flames are the saving grace here.
- I have already noted that the issue of commercial development subsequent to stadium development is largely incorrect. Again, studies to prove it.
Of course this is a complex issue, and perhaps I am being a little rude in my insistence on telling others to educate themselves, but the facts are out there! This will play out the same way it always does, because why wouldn't it?