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curves2000 · 11-24-2015, 09:35 PM

I have said it before and I will say it again. If the ownership group is expecting the city to pony up $200 mil for their portion of the field house than the taxpayers need to get some revenue benefit for that.

We can't have $200 mil in taxpayer dollars going to a project that's going to be used by the public a good chunk of time AND have the ownership group collect all the revenue from all the events, parking, concerts, concessions etc. That right there is worth tens of millions a year, every year for an expected lifespan of 35+ years. I don't want to see any crap "rent" payments like the taxpayers in Edmonton got hosed for. The ownership up there is paying rent I believe of $7 mil a year to the city but gets the ability to collect all revenue. As an investor I would love the ability to pay chump rent and collect huge revenue streams on a property I don't own.

Also as a side note that I don't want to sidetrack anymore is the Gov of Alberta finances. The Alberta Gov has been bleeding red ink and burning through our rainy day funds for years. A few years ago they went to an accounting model where they didn't include the total cost of capital projects paid in full when PRESENTING the budget to the public and the press.

An example would be building a bridge for say $30 mil with an expected lifespan of 30 years. On the budget this would have been listed as a capital expense of $1 mil a year for the next 30. In reality $30 mil in cash was paid out for construction.

We have been burning through billions a year and the financial picture is looking awful and I am not really sure I am seeing the true public benefits of billions and billions in debt on top of the highest per capita spending by a provincial government. As a 30 year old born Calgarian I remember the cuts to services during the dark days of the early 90's when Ralph Klien was trying to get the budget under control. We felt the pain but I am still waiting to see the actual GAIN.

Todays debt is tomorrows taxes and working hours. The same thing applies to personal finances too.

Sorry about the rant.

11-24-2015, 09:35 PM	#3381
curves2000 First Line Centre Join Date: Dec 2013 Location: Calgary, Canada Exp:	I have said it before and I will say it again. If the ownership group is expecting the city to pony up $200 mil for their portion of the field house than the taxpayers need to get some revenue benefit for that. We can't have $200 mil in taxpayer dollars going to a project that's going to be used by the public a good chunk of time AND have the ownership group collect all the revenue from all the events, parking, concerts, concessions etc. That right there is worth tens of millions a year, every year for an expected lifespan of 35+ years. I don't want to see any crap "rent" payments like the taxpayers in Edmonton got hosed for. The ownership up there is paying rent I believe of $7 mil a year to the city but gets the ability to collect all revenue. As an investor I would love the ability to pay chump rent and collect huge revenue streams on a property I don't own. Also as a side note that I don't want to sidetrack anymore is the Gov of Alberta finances. The Alberta Gov has been bleeding red ink and burning through our rainy day funds for years. A few years ago they went to an accounting model where they didn't include the total cost of capital projects paid in full when PRESENTING the budget to the public and the press. An example would be building a bridge for say $30 mil with an expected lifespan of 30 years. On the budget this would have been listed as a capital expense of $1 mil a year for the next 30. In reality $30 mil in cash was paid out for construction. We have been burning through billions a year and the financial picture is looking awful and I am not really sure I am seeing the true public benefits of billions and billions in debt on top of the highest per capita spending by a provincial government. As a 30 year old born Calgarian I remember the cuts to services during the dark days of the early 90's when Ralph Klien was trying to get the budget under control. We felt the pain but I am still waiting to see the actual GAIN. Todays debt is tomorrows taxes and working hours. The same thing applies to personal finances too. Sorry about the rant.