Quote:
Originally Posted by Parallex
The public benefit in that instance is the revenue stream provided by a new privately owned arena (vs. the old publicly owned arena).
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Um no. That revenue stream is a loser in terms of public benefit. The numbers quoted by Nenshi is that the property tax on the arena would be around $6 million per year. Which means it would take about 30 years to recover the $185 million at 0% interest. Even longer if you are trying to recover the interest the city will pay on a $185 million loan over 30 years.