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troutman · 03-29-2017, 09:45 AM

How Rogers Place in Edmonton was funded:

https://en.wikipedia.org/wiki/Rogers_Place

The arena building was initially estimated to cost $450 million. The City of Edmonton was to pay $125 million, the Katz Group of Companies was to contribute $100 million, and $125 million was to come from a user-paid facility fee.[12] The remaining money was expected to come from the province or federal agencies.[13] Estimated cost then increased substantially during continued discussions to a current estimated price of $480 million for the arena, and $604.5 million for the entire project.[14]

On October 26, 2011, the Edmonton City Council approved a funding framework for the arena by a vote of 10 to 3.[15] However a year later, with costs escalating and the Katz Group making increasing demands, the city passed a motion to end negotiations with the Katz Group and to seek out a new deal or find other options but would still be open to communicating with Daryl Katz for future talks.[16][17]

On May 15, 2013, the Edmonton City Council passed a deal that saw the City of Edmonton, and Oilers owner Daryl Katz each put in more money to offset the $55 million shortfall needed to build the new downtown arena. Katz chipped in an additional $15 million through the Edmonton Arena Corporation and another $15 million came from the Community Revitalization Levy (CRL).[18] On December 3, 2013, Rogers Communications announced a 10-year naming rights deal for the new arena, henceforth known as Rogers Place.[19] Rogers Place is one of four Rogers-branded sporting facilities in Canada, alongside Rogers Centre in Toronto, Rogers K-Rock Centre in Kingston, and Rogers Arena in Vancouver.

The arena was funded by the following sources:[20]

$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

03-29-2017, 09:45 AM	#15
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	How Rogers Place in Edmonton was funded: https://en.wikipedia.org/wiki/Rogers_Place The arena building was initially estimated to cost $450 million. The City of Edmonton was to pay $125 million, the Katz Group of Companies was to contribute $100 million, and $125 million was to come from a user-paid facility fee.[12] The remaining money was expected to come from the province or federal agencies.[13] Estimated cost then increased substantially during continued discussions to a current estimated price of $480 million for the arena, and $604.5 million for the entire project.[14] On October 26, 2011, the Edmonton City Council approved a funding framework for the arena by a vote of 10 to 3.[15] However a year later, with costs escalating and the Katz Group making increasing demands, the city passed a motion to end negotiations with the Katz Group and to seek out a new deal or find other options but would still be open to communicating with Daryl Katz for future talks.[16][17] On May 15, 2013, the Edmonton City Council passed a deal that saw the City of Edmonton, and Oilers owner Daryl Katz each put in more money to offset the $55 million shortfall needed to build the new downtown arena. Katz chipped in an additional $15 million through the Edmonton Arena Corporation and another $15 million came from the Community Revitalization Levy (CRL).[18] On December 3, 2013, Rogers Communications announced a 10-year naming rights deal for the new arena, henceforth known as Rogers Place.[19] Rogers Place is one of four Rogers-branded sporting facilities in Canada, alongside Rogers Centre in Toronto, Rogers K-Rock Centre in Kingston, and Rogers Arena in Vancouver. The arena was funded by the following sources:[20] $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