Quote:
Originally Posted by Bonded
Lol even worse. So the city is actually financing 866M? I missed that.
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Yes, they are financing the Flames rent payment which is money used to get the building built. It then comes back through the rent payment over 35 years.
Upfront costs for the building and “non infrastructure as listed in the project” costs is
40 million from the Flames
944.9 million taxpayers
If you include the infrastructure the upfront costs are
40 million Flames
1.183 billion taxpayers
Flames rent goes up by 1% each year to account for inflation. If the City can borrow money at lower than 1% they could make money on the spread on the loan, otherwise they are losing money on the loan. Hopefully they find a rate lower than 1%.