Quote:
Originally Posted by Poster
By the way. Economically, why didn’t we just build it all our self and charge the Flames rent?
Also have details about development rights been released? I recall in earlier versions the Flames were trying to lock up a lot of that for themselves.
Anyhow, why not just charge rent to the Flames? I’m guessing becuase then they will threaten to leave if they can’t access all that revenue?
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We are actually, except for $40 million that CSEC will provide in cash upfront.
The arena itself plus the attached community rink, parking, and indoor plaza (ignoring all the other adjacent elements), is estimated to have a construction cost of $897.7million. Arena $800m, parking $35.4m, indoor plaza $9.5m, and community rink $52.8million
CoC will pay $537.3 million of that $897.7million. The province will cover $26.4million, CSEC $40million and the remaining $294million will be financed (assumed by the City).
CSEC will pay $703.8 million over 35 years of the lease + $52.5 million to community sports.