Quote:
Originally Posted by You Need a Thneed
The problem with that math is that the CRL needs to cover much more than just the building. Add another $250 million (approx)for other infrastructure upgrades
, and it becomes $500 million. Now you are left trying to pay back $500 million with only a small chunk of land left, and all of the best land gone used by the building and not paying property tax. It doesn't work.
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Yeah, that's the biggest issue with the Flames proposed funding model. I don't inherently object to the city entering into a PPP with CS&E... but there has to be some mutual ownership to justify using CRL funds directly for the complex.