Quote:
Originally Posted by GullFoss
Just to add on here...using my financial wizardry skills:
The city has offered a loan $150-200m with full recoupment of costs. The value of what the city is proposing is worth between C$50-75m based on whether the size of the loan is $150-200m. That works out to a funding ratio of 11-12% based on an arena cost of $450-600m.
The CSEC has asked for 1/3 of arena cost with no recoupment, equating to $150-200m. So the flames are asking for a funding ratio of 33%.
The two sides are off by C$100-125m
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Which again, is meaningless if the Flames are also expecting their own third to be paid out over the life of the building like the Katz deal in Edmonton. The city cannot allow itself to be raked over the coals like that.