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Old 07-22-2019, 09:46 PM   #370
GGG
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https://www.scribd.com/document/3595...ring-proposals

Above is the link to the old deals

Overall the budget for the Arena went up as it used to 555 million including land and demolition now its 550 + 12.5 in demo and 30-40 in land for about 600 total.

The city increased their portion from 185 million to 326 million and gave up half of the property tax amount the ticket tax is a roughly 4.5 million per year cash flow compared to 9 million in tax they wanted. That model of the Arena was effectively the flames paying 100% of the Arena cost if you considered them losing the current property tax exemption. The city NPV on their investment was about zero (actually slightly positive meaning they made money on the deal) if you considered the property tax an income stream. So the city increased their offer by about 184 million from the previous one.

Under the flames proposal the city paid 280 million up front with no cost recovery or other benefits. So the flames changed their proposal by sharing the ticket tax revenue which is worth about 100 million to the city.

So the City moved more than the flames did but extracting an extra 100 million was pretty good. More importantly they gained control of the project and put it into the capable hands at CMHC.
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