Quote:
Originally Posted by IamNotKenKing
No. No they won't. Ownership pays $200MM. Users pay $250MM. New, currently unrealised taxes pay $240MM. City contributes already earmarked $200MM.
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I realize we are all going around and around here, but this a real spin (no pun intended). The spin we were given by King, but still spin.
It's going to cost at least 890 million dollars (and no doubt more if this actually happens), and the commitment from the Flames/Stamps is 200 million. All the other money comes from someone other than the Flames.
You can call it unrealized taxes, "earmarked" money, or whatever, but ultimately the main purpose of this is to build a new rink for the Flames and a football stadium for the Stamps, and they have offered to pay for ~20% of it.
The "user tax" is still a tax on the citizens who want to go to an event in a city-owned building. It's called a tax, after all. It's not a freebie.
200 million bucks seems awful steep for a single field for public use (when the pro sports team isn't using it) and a few other facilities (wherever they would go in there).