Quote:
Originally Posted by New Era
Did you even look at the Edmonton proposal? A 50:50 is still better than the shaft the City of Edmonton took. I'm not in support of a 50:50, but holy crap, that is infinitely better than getting a $600M+ project rolling with 4% of the required cash up front. Edmonton fronted 96% of the cost with the hopes of recouping 42.8% through recovery mechanisms over the next 35 years!!! That means Edmonton will eat 52% of the costs to build the arena, after fronting almost all of the money.
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I have been blabbering on to all the CSEC apologists about Katz and his $20M upfront fee for the better part of this week thinking it can't get any worse than that.....boy was I wrong.
The best part is this is the offer we know of. You can guarantee CSEC has some easter eggs in there that will amount to the same thing as Edmonton where they put nothing up and actually owe substantially less to begin with.
It may be time for a very public CalgaryPuck fan protest complete with burning effigies of CSEC key figures.