Quote:
Originally Posted by DiracSpike
Does anyone know the specs on how much public money went to Edmonton's arena? Just curious.
Also, I know the two sides are still pretty far apart but I find it hard to believe that there's not a deal that can be worked out whereby the city takes a cut of arena revenue. There's so much money to be made off of having possibly two premier event centres for a metro area with 1.3 million + people, we just might have to see some more give on the owners side than they want. Considering all the things the city spends money on that give virtually no return you'd think they'd be more receptive.
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The arena will be funded by the following sources:
[8]
- $279-million from the Community Revitalization Levy (CRL) and other incremental revenues (increased parking revenue, reallocation of existing subsidy paid to Northlands and new taxes from business in the arena)
- $125-million from ticket surcharge on all events in the new arena
- $137.81-million from lease revenue for the Arena
- $23.68-million in cash from Edmonton Arena Corporation
- $25-million from other government sources