New Edmonton Arena Construction will begin in March 2014

[Reanimate]

Its coming up on twitter that the Katz group requested more tax payer money and was rejected by the City of Edmonton. Apparently Katz is quite upset.

I can't post a link because I am on my POS blackberry.

[troutman]

Ken King please read

[Tyler]

I for one, am absolutely shocked that that original $100M gap in funding which everyone thought 'we'll figure that out later', is now posing a problem

#EdmontonLogic

[Locke]

Its funny because as a businessman Katz is a bit optimistic.

Hes pledged a certain amount of money and I'm sure he thinks thats great and all, but why he thinks the City of Edmonton is not only going to pony up the difference, but also cover all of the overruns seems obscenely naive.

Every day that they wait that building gets more and more expensive, yet Katz isnt budging on the amount hes willing to contribute and so is effectively requiring the City to pay more and more.

Does he 'like High School girls' for the same reason?

[Joborule]

In the end I think Katz is making the right move from a business sense. He will get the city to fork over more dough; just has to be patient. If push comes to shove, he could use the relocation card once again to apply pressure.

This works because as a whole, the arena will be beneficial to the city and the area it's being built in. So I could see the public giving more support to Katz here.

[BlackRedGold25]

I hear there's a new arena being built in Seattle. That'd be a quicker commute for Katz from his home in Vancouver.

[valo403]

Originally Posted by Joborule

In the end I think Katz is making the right move from a business sense. He will get the city to fork over more dough; just has to be patient. If push comes to shove, he could use the relocation card once again to apply pressure.

This works because as a whole, the arena will be beneficial to the city and the area it's being built in. So I could see the public giving more support to Katz here.

I agree completely, he's putting in cash to maintain appearances and now that he's got people excited about the deal he puts the pressure on the city to be the bad guy that stops the deal. I'm not sure it will work, people seem to be keen to this game nowadays, but I'd be surprised if it wasn't all part of the plan from day one.

[Locke]

Originally Posted by valo403

I agree completely, he's putting in cash to maintain appearances and now that he's got people excited about the deal he puts the pressure on the city to be the bad guy that stops the deal. I'm not sure it will work, people seem to be keen to this game nowadays, but I'd be surprised if it wasn't all part of the plan from day one.

I just dont see the city falling for such an obvious ploy.

Then again I could be giving the city of Edmonton far too much credit in that regard as well.

[valo403]

Originally Posted by Locke

I just dont see the city falling for such an obvious ploy.

Then again I could be giving the city of Edmonton far too much credit in that regard as well.

What if he threw in a couple pairs of formal sweatpants and 2 free mullet trims?

[BlackRedGold25]

Originally Posted by valo403

What if he threw in a couple pairs of formal sweatpants and 2 free mullet trims?

Isn't it a misdemeanor to trim your mullet in Edmonton? But I think if you switched the mullet trims for a couple pairs of trailer hitch testicles they might go for it!

[Locke]

Originally Posted by valo403

What if he threw in a couple pairs of formal sweatpants and 2 free mullet trims?

First of all, he cant afford to be casually throwing those mullet trims away, he needs every one hes got.

And secondly, everyone already has their formal sweatpants, its the city's uniform and each resident is issued them upon arrival.

He'll have to find another way to sweeten the deal.

[Locke]

Here is the story:

EDMONTON - The Katz Group asked city council for more money to fund the proposed downtown arena Wednesday, but councillors said no.

Asked if he was still optimistic the arena will be built, Mandel said “optimistic might not be the best word.
“Frustrated might be a better word,” he said.

Asked if council had been blindsided, Coun. Kim Krushell said, “I would characterize it that I was surprised.

There is growing concern among some, including the Edmonton Chamber of Commerce, that the $450-million project is in trouble. The city has yet to find all the funding it needs for construction.

Mandel said the ball is in the Katz Groups’ court.

Read more: http://www.edmontonjournal.com/Counc...#ixzz26IDg0Sfw

[EddyBeers]

Good god, government money to a private enterprise so that said private enterprise can make more money? I thought Alberta was getting out of this type of Corporate welfare.

[Locke]

And just as I asserted in my first post, the city is sticking to the original 'agreement' but in that agreement they're still missing $100M and no one is ponying up to cover the overages now that the project is going to cost more.

[Bertuzzied]

haha. i'm going to goto Shoppers Drug Mart tonite to get my prescriptions instead! suck it!

[BlackRedGold25]

Originally Posted by Bertuzzied

haha. i'm going to goto Shoppers Drug Mart tonite to get my prescriptions instead! suck it!

Good! It's about time you got back on them!

[Jordan!]

Sports are stupid

[saskflames69]

Might as well call it Canadian Club, this arena is on the rocks.

[dash_pinched]

Tonight on "Dragon's Den", Darryl Katz...

[You Need a Thneed]

SO, this arena that was originally supposed to cost $450M, which had only $350M in committed funding, and of the $350M, the city was already putting in more than it's share should be, which had already been cost cut down to $470M by eliminating some niceties (still $20M over the original budget), is now on the rocks?

The project has been on the rocks from day one. A Billionaire trying to extort a municipal government, that's what this is.