Quote:
Originally Posted by Roughneck
Having the Flames pay for 70% of the arena, negotiating with the province for property tax breaks (meaning they'd own the arena putting that declining value liability in their court rather than the city's), and letting the city charge an entertainment tax on every ticket sold and then rebate a bunch of it then sign me up. Put that deal in front of the city and they'd sign without much hassle too i'd imagine.
It means the Flames lose the ticket tax as a form of funding, and contribute a whole lot more cash than they were ever willing to contribute, because it is a tax rebate from a city revenue source, and not a loan guarantee. But yeah, done deal.
|
I'm of the belief that 66% of the funding was to come from the Flames, 33% straight cash and 33% ticket tax. So I don't think it's fair to say 70% was a whole lot more than what CSEC was willing to contribute. I agree with you though that who owns the building is likely to be a contentious issue, along with what is, in my opinion the most contentious issue:
The Flames are looking for a contribution they won't have to pay back, like what the various Mantioba governments put into the MTS centre. The City has been pretty dead set in their contribution remaining as a loan, so I have to disagree with the notion that the CoC would sign a WPG-like deal.