Why don't the Flames replace the CRL by issuing their own bonds?
$200M equity from CSE
$200M from city (fieldhouse)
$250M user fee
$240M CSE 10 year bonds
City pays for cleanup, with whatever mechanism such as a CRL. I just don't see any other way around this. They can go hat in hand to the province and/or the feds if need be, but no developer will pay for the cleanup, be it CSE or a typical commercial developer.
At 5% those bonds would cost them $12M in interest annually. No idea on CSE earnings or what the incremental revenue would be from the new arena, but I'm sure it would still make a ton of sense.
If they changed their proposal to this structure and released the actual rendering and plan, I'm sure it would be rubber stamped almost immediately.
Plus I'd probably buy some CSE bonds haha, that way it's almost like I'm paying myself to go to games
