Quote:
Originally Posted by FireGilbert
It is a horrible deal but this is the point that seems ridiculous. Why is the city of Edmonton advertising at an arena in Edmonton? So basically Katz put up $27M upfront but then the city gives him $20M back over 10 years. Crazy!
|
It gets better. Katz's group Katz-WAM won the bid to house city workers at 101st & 104th ave (less than a block from Rogers Place). Beat out 20 other developers for the anchor lease in 2012. Original arena deal was signed in Oct 2011, with additional funds approved in May 2013. Cost to move workers was $16.4m, with $9.5m paid by Katz group.
https://goo.gl/e7kVKD