Quote:
Originally Posted by DJones
So the City wants the owners to pay for it all.
Can't say that surprises me why the Flames aren't happy. Can't see anything being done unless the city actually pays for something rather than acting as a bank.
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I can understand why the Flames don't like this deal at all but I don't see the city (at least with Nenshi around) changing their mind on this.
Sounds like the city will have to develop infrastructure around the facility as well, who knows how much that will cost. Does the counter proposal from the city include these costs? That could account for the extra $100m the Flames aren't accounting for.
I don't mind the 1/3, 1/3, 1/3 model at all. That is a better split for us Calgarians. Getting some sort of profit back from the new arena to the city will likely need to happen. Maybe it is 30% of arena profits annually until the loan is replayed? No matter the revenue. The $200m could be paid off in 20 years and not 30 based on how smart the CSEC is at filling the building and managing their business. Should the property tax be included as part of repayment, I think it should be. That could be the little lee-way the city can give the CSEC and is a small piece of the pie IMO.