Quote:
Originally Posted by sureLoss
I am pretty sure that CSEC's position is that the city's contribution should be a CRL and paid back via the incremental property taxes for the this new entertainment district and not be paid back by CSEC.
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Just to add on here...using my financial wizardry skills:
The city has offered a loan $150-200m with full recoupment of costs. The value of what the city is proposing is worth between C$50-75m based on whether the size of the loan is $150-200m. That works out to a funding ratio of 11-12% based on an arena cost of $450-600m.
The CSEC has asked for 1/3 of arena cost with no recoupment, equating to $150-200m. So the flames are asking for a funding ratio of 33%.
The two sides are off by C$100-125m