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Originally Posted by TGH44
I am a tax payer and long time STH. For me, this issue is pretty straightforward. The City makes investments in capital projects that it believes will enhance and add value to the lives of its citizens. For example the public library enhanced the lives for a segment of citizens but I (and my family) will never use it or get any value from that $235M investment, however, I am fine that a portion of my tax dollars went towards that project because I see the value for other citizens. Likewise, the Flames in Calgary add value to me and my family (I take my hockey playing sons to every game) and I'm fine with my tax dollars going towards an event centre which will ensure the long term viability of the Flames in Calgary. Having gone through the deal and online documents, this seems a fair deal to me (I agree a fair deal is important and I wouldn't support a very one sided deal, but a blanket statement that public $ should never be used for these types of capital projects is ignoring and discounting the benefit that I, my family and many other citizens get from the Flames being in Calgary and the other events etc.). The NPV and IRR are not private industry level, however, I'm comfortable in saying the cashflow the City will receive from the Event Centre over its life will be significantly more than that received by the City from the new public library. Again, I'm happy that my tax dollars support both projects as a big portion of the citizens of Calgary will receive value from both projects. If the City only had funds for one of the two projects then things become more contentious but that isn't the case.
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This has been debated endlessly before, but the major difference is libraries target a much broader and in some cases vulnerable demographic than paying event centre customers like you and me.
I have been fortunate to go to hundreds of Flames games with my dad. Dozens with my own quarter season tickets since I’ve starting splitting tickets with friends. A handful of concerts. It is hard not to notice that Flames fans and concert goers are generally very wealthy. Not exactly a demographic that needs a public subsidy.
I am firmly part of this group, so I can safely say that the people that go to arena events don’t truly need the extra value that comes with a new arena. My life or your life is not drastically going to improve by sitting in seats that have never been farted on, waiting in shorter washroom lines, or drinking $13 beers from fresh beer lines.
Coding programs for kids. English second language spaces. Career and resume services. These library services have a much greater impact than an improved entertainment experience for people who already have good lives. It is not an apples to apples comparison in terms of value.
Even though I benefit more from a new arena, it feels wrong to me. I don’t need or want a public subsidy for my entertainment. The central library is already built, but there are going to be some worthwhile public endeavors that don't get funding because the money is spent on this arena. An extra low income housing unit or access to ESL services could make or break someones life. Your kids are going to grow up into happy productive Calgarians, with or without a new arena.