Quote:
Originally Posted by Simanium
No, it's money that would never have existed but for the development of the land and CalgaryNext is the catalyst for that development. Arena or not, just like East Village, there is no way it's getting developed without a CRL. It's a 20 year investment for a reduction in taxes thereafter for eternity.
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There has been a plan for the west village since 2007 now, so I think it's incorrect to suggest the arena is the catalyst for development. I believe the location along the river and its proximity to downtown will be the catalyst for development, as it was in the east village. The land will see action one day, arena or not.
My issue isn't even with the CRL itself, especially with the recent success story in the east village. I firmly believe that a CRL could pay for the remediation and infrastructure requirements of the west village just as it has on the opposite side of downtown. My issue is with this CRL directly subsidizing a private company, the same company that is only willing to foot a minority share of the bill.
save the CRL for the requirements of making the land usable, not for financing the building itself.