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Originally Posted by Regorium
I am guilty of referencing 1B dollars so here's my justification for it.
What we know the city is paying:
- 240 million CRL
- 200 million for the field house
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Yes. And that $200m was going to be allocated for such a facility anyways.
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What we assume the city will pay:
- 300-400 million for creosote cleanup
- 100-200 million for bow trail realignment
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Tough to comment on the cost of the creosote clean-up because A) we don't know how much it will cost and B) we don't know who will end up paying for it (my guess is a combination of the city and province when all is said and done). The bow trail realignment needs to be done stadium or not. I don't really factor that in for that reason.
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What is likely for the city to front:
- 250 million ticket tax (funded by city, recouped from users)
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Possibly, but this would be a loan (which should actually make the city money) and will be paid for by Flames revenues, so while the city MAY front the cost for it, it shouldn't hit tax payers because that's not how the loan is to be paid. Either way, if the city rejects fronting that, the owners will go to private financing.
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Operationally, the original proposal had the City of Calgary owning the building, so they will pay all the utilities, taxes, renovations, repairs to be done.
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Sure, but that also means they should have a cut of profits made from the facilities. Not from the actual hockey team and their revenue, but parking, concerts/exhibitions, etc. Not saying these will offset all the operation costs, but the costs aren't the whole picture.
The problem is there is a lot of "should" and "if" and "probably" in there because we really don't know, and what people (myself included) are ticked about is that they should have had this all figured out before they had any sort of presentation to city council or to the general public. That combined with the very thin threat of relocation (it won't happen, and if they are going to leave for this reason then f*** em anyways. I like the Flames as much as anyone but that is straight BS. Someone will want to operate an NHL franchise in one of Canada's most prosperous cities, yes even with the current downturn).