Quote:
Originally Posted by shermanator
So this city is facing a funding crisis due to the high number of vacancies in the commercial sector, is trying to pause the development of a new transit line, is panicking on how to provide relief to small businesses, yet it has money to put towards a new arena?
Doesn't pass the smell test to me.
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Ryan Pike
@RyanNPike
A distinction: any arena funds from #yyccc would be from capital grants which can ONLY be used to build stuff. The current tax hubbub and service cuts (also on Monday's agenda) come from operational funds, which are completely different and funded by taxes.
In the last iteration (July 2017) of the deal, the funding for the City's $175m cash contribution was from leftover funding from previous infrastructure grants identified during Infrastructure Calgary process.