Quote:
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
What we assume the city will pay:
- 300-400 million for creosote cleanup
- 100-200 million for bow trail realignment
What is likely for the city to front:
- 250 million ticket tax (funded by city, recouped from users)
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.
Seems pretty close to 1B to me.
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The CRL will be needed regardless of who develops the area, just like it was for the East Village.
The field house needs to be funded regardless of it's inclusion in this project or not.
Creosote cleanup needs to happen even if the site is never developed.
Bow Trail realignment also needs to happen if that area is ever going to be utilized to it's full potential.
The Ticket Tax money is a loan, that the city can charge interest on.
So basically all of your 1B is getting spent regardless of CalgaryNEXT happening or not happening.