Quote:
Originally Posted by Bingo
Well I'm certainly not looking to defend or argue down CRLs for tax collection. I've certainly seen the logic in the CalgaryNext project taking up too much tax collecting property space.
Once again I'm not in favour of CalgaryNext.
But I still think it stands that a project that takes up 40% of the space shouldn't be assessed at 100% of the infrastructure.
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The project relied on the entire CRL area to be developed in order to fund it. Therefore the full costs of achieving that goal should be included in the project costs. The flames didn't want to do that because if you compare building a fieldhouse, and using a CRL to develop the west village independent of the CalgaryNext you find that the city would be paying 500 million towards an arena /stadium and getting only 90% of a fieldhouse and a smaller tax base.
So there are two ways to price the project One is to include all costs to realize the tax gains required for the project the other is to compare it with or without the subsidized piece. The flames did neither because it looks bad optically. Though asking for a 700 million dollar handout doesn't look to great either.