Quote:
Originally Posted by GullFoss
Here's my bet of what the final product looks like. As someone who was against Calgary next and Olympics, I would back this
Ticket tax: $175m
Flames: $200m, 50% of cost overrun
City: land, infrastructure, $125m, 50% of cost overrun
CLR: $75m
Flames patrons pay 30%
Calgary flames pay largest share 35%
City pays through direct contribution ($100 per citizen)
Businesses pay through CRL
Everyone who benefits is paying a share. Flames end up paying ~2/3 through ownership and ticket tax
|
*And flames pay $2m of property tax per annum, with a 4% escalator each year, which has an NPV of ~$125m over 60 years using a 3.5% discount rate. So the city recoups its investment, and no one gives a #### about $2m per year