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Old 09-22-2017, 10:35 AM   #2207
GGG
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Quote:
Originally Posted by Ice_Weasel View Post
This does not seem insurmountable to me either. The biggest philosophical shift required is the City to accept that there is some incremental benefit to them to having a state of the art arena in Calgary, that over time will benefit them. 35 years is a long time to recover $150-200 million. Discounted at 5% this is like 9-12m per year. How about the Flames guarantee a $5m donation to amateur sport in Calgary per year and call it even? Is it unreasonable to think that the net economic benefit of a state of the art arena is less than $5m per year? People need to think beyond pure property tax impact. Every incremental dollar brought into the city helps the economy.
Yes it is unreasonable to think that a state of the art arena will bring a net economic benefit to the city. The substitution affect is real. Arenas are poor investments if your goal is to increase economic activity
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