Quote:
Originally Posted by Reggie Dunlop
I'm generally fine with building a new arena (and yes, fully cognizant of the arguments against publicly funded arenas and stadiums). It was going to happen eventually.
For me, it's the sweetheart deal CSEC will get on the bus barns land. Keep in mind, a new bus barn facility will have to built somewhere else. Even if you argue the property is on some very valuable real estate to offset that, why not have the parcel open for other bidders?
To me, it smells reminiscent of the Katz swindle.
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It's only good for 10 years. The city also has the option not to make the land available during those 10 years. So really, it could be viewed as a sweetener that the city offered in negotiations that they never need to come through on. Seems more like CSEC is taking the risk on that particular point.