Quote:
Originally Posted by crazy_eoj
If the City is contributing only a loan to the Flames, and then they OWN the building, then how much are they paying for that ownership/right to charge rent? Being gifted an almost billion dollar structure....that's not ordinary.
As mentioned in many other posts it certainly isn't un-ordinary for the city to relax property tax requirements for new construction projects either. How much does the National Music Center pay for property tax....anyone?
Pretending either of these things are 'ordinary' in this situation doesn't make any sense.
|
The National Music Centre is likely exempt from property tax as a non-profit organization pursuant to the Municipal Government Act. If the Flames want to explore incorporating as a non-profit in order to qualify for property tax exemption, I would encourage them to consult a lawyer.
__________________
"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
|