Quote:
Originally Posted by Bonded
City puts up 550M in cash. CSEC puts up 40M. Province puts up 300M. CSEC then pays an escalating rent as their contribution. So they are basically turning their cost of doing business into an arena and taking on very little risk.
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This is bang on. And to further clarify, as it's easy to get confused:
City puts up 550M in cash.
Province puts up 330M.
CSEC puts up 40M.
The city also puts up another $316M on CSEC's behalf, which is the part that gets repaid through those $17M (+1%) rent payments.
Which is to say, the CSEC rent payments do not offset the other ~$880M above, at all.