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Originally Posted by Bunk
I’m trying to remember a formal public consultation on the funding portion of a capital project. Design, sure, that happens all the time, but funding? Not really. I suppose this is different because of the nature of CSEC in the mix, but it’s not like we strike funding deals with private partners (say developers) and governments for projects and there is a bunch of feedback and a public hearing before ratification on that as a normal matter of course.
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Arena and stadium deals are somewhat unique I think. There’s been a plague across North America of greasy deals of public dollars for private benefit, and it’s different from say, partnering with developers for a new community or project. How often does the city partner with a developer to build a luxury condo or luxury tower the city pays for but the development company gets to manage and collect the profit on? Typically when there’s partnership with private partners for development it’s in the form of upzoning incentives or waiving levy fees rather than putting up cash and taking on long term liability of the property, no? I imagine if there is it’s at least for low income initiatives or the most hard done by aspects of the city, not for the most privileged?
What would the feedback have been if the city tried to partner with Brookfield to be a building partner for Brookfield Place and put up 50% of the building cost?