Quote:
Originally Posted by Regorium
The City owning the arena means that there's no property taxes to be paid.
The city owning the arena means that if there are lingering construction issues, they have to deal with the lawyers and the liability.
There is no good reason from the City perspective to own the building except as a subsidy/concession to the Flames.
|
Who is responsible for taxes, construction issues and liability is completely down to whatever a lease or construction agreement says. My firm rents its downtown office and in our recent move we renovated the floors we are on from cement out. We paid for most of that cost. Of course because of the economy we wrangled great concessions on both rent and building costs. All that stuff is negotiable.