Quote:
Originally Posted by Freeway
Uh... Nenshi's gone from "no public money" in 2015 to "public money for public benefit" as of early in 2016. He's moved quite a bit.
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I find this very interesting. The public benefit could take a few forms.
1) The building being part of an Olympic bid and the incremental economic activity that results
2) If no Olympics, how a deal is structured between the Flames and the City. The original proposal centered around the city putting up the cash and then being repaid by the CRL, ticket tax, etc. Probably plus interest if the city goes into debt...really, the city is losing out on the time-value of money by fronting the cash and getting it back over however many years. Assuming this was the intent of the Flames, to say "we'll pay you back over time", which is really just a long term lease, there's nothing in it for the city. But, if a premium was tacked onto the interest, all of the sudden there is financial benefit for the city to making this investment. Yes, it's an extra cost for the Flames, but that's a part of doing business if they want new sources of revenue.