Quote:
Originally Posted by getbak
Victoria Park will also have developments that will be paying property taxes.
In the CalgaryNext proposal, the arena/stadium/fieldhouse building would have occupied a significant percentage of the contaminated land and the Flames didn't want to pay any property taxes for it. That's the problem. If it's only economically viable to develop the land if all the land is generating tax revenue, you can't take 1/3 of the land to build something that won't generate anything.
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The point to it was that there wouldn't be any development at all without the proposal. And the property tax dollars from adjacent development would simply be added to city coffers, which would be used for cleanup.