Quote:
Originally Posted by Ducay
You nailed it. Loans are basically free money. Makes you wonder why the city isn't taking out more of these $250M loans to cover other projects, since the projects' income would cover the loan. We should see new rec centres and arenas popping up in 3-4 years time now we've uncovered how to rent money.
Flames have no trouble getting good interest rates, trust me, big N.M.Edwards could guarantee that amount personally in a heartbeat and get a fabulous rate. There is a reason he isn't.
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I see absolutely no reason for sarcasm here. It is a discussion about the various issues and details that are potentially at stake.
If you would like to have an intelligent conversation about these issues, great. If not, then please keep it to yourself.
As for the ownership group borrowing the money themselves, yes they could - and no one, including KK, has said otherwise.
However, if you want to pretend that you have any idea of what you are talking about, then you would know that the city can borrow the money at a cheaper rate than the project could commercially.
Is it massively different? In your mind, probably no. But for a 9 digit loan, every basis point matters.