Quote:
Originally Posted by Bunk
It's hard to be this right all the time.
|
Except you aren't right.
"Calgary offered to pay for one-third of the arena, in equal instalments over a number of years, according to a source.
The money would have to be paid back. The ownership group, according to this proposal, would cover another third of the total cost and surcharge on tickets would pay for the remaining third, the source said.
The Flames organization rejected the offer, the source said."
So the city really isn't contributing anything, because they are getting their money back. For the honor of the city guaranteeing 1/3 of the money through some type of loan, the Flames get to build their arena where the city tells them, has no opportunity to develop the entertainment district, and has zero opportunity to develop condos or other commercial properties.
So pay for a second rate building on a third rate site where they get no opportunity for revenues outside the arena. Oh, and that would be on city owned land, in a deal made with the Stampede board in a land swap. Hard to believe the Flames would walk away from such an amazing deal for them?