[News] Tentative Agreement Reached! New Arena!

[ricosuave]

Originally Posted by TheScorpion

The James Neal Centre for Players Who Can't Play Good.

Just. Stop.

[topfiverecords]

Originally Posted by TheScorpion

The James Neal Centre for Players Who Can't Play Good.

[Table 5]

The "comedy" in this thread is painful.

[zamler]

Originally Posted by TheScorpion

The James Neal Centre for Players Who Can't Play Good.

you win

[TheScorpion]

Originally Posted by ricosuave

Just. Stop.

I think you're in the minority on this one.

[topfiverecords]

The public plaza will be on the west side of the event centre. Hopefully wider than just a pedestrianizing of Stampede Trail during events.

[flizzenflozz]

Originally Posted by Gallick

There's something to be said for an iconic name. I think the key here is staying away from the more boring suffixes - "Place", "Center", "Arena", etc that every arena seems to get eventually - it's got to be a bit more unique, think "Gardens", "Coliseum", or "Forum". Something that sounds good alone after "the".

Cauldron

[sureLoss]

CSEC will be granted the option to acquire land (Enoch Sales house) from CMLC in the Rivers District based on the value prior to creation of the event committee. This option will expire when CSEC moves in to the event centre.

CSEC will be granted the option to acquire bus barn land if the city makes it available for development. Value is current value price and this option will expire 10 years after CSEC moves in to the event centre.

[Beatle17]

Originally Posted by Slava

I guess someone has to be that guy...so here's the thing. The "financials" are pretty hollow for this "great deal". Like to the point where a couple posters here have touched on NPV/TVM and in their work-up it's just plain ignored. Why is this such a rush to get rammed through all of a sudden?

Frankly, I'm rather surprised that everyone here is completely onside. This proposal/agreement is pathetic in financial detail and I tend to think that's kind of a big deal.

So those guys from Ernst and Young who have been an integral part of the discussion don't know what they are doing? Good thing they released all the information and you caught the fault in the discussion.

[GGG]

https://www.scribd.com/document/3595...ring-proposals

Above is the link to the old deals

Overall the budget for the Arena went up as it used to 555 million including land and demolition now its 550 + 12.5 in demo and 30-40 in land for about 600 total.

The city increased their portion from 185 million to 326 million and gave up half of the property tax amount the ticket tax is a roughly 4.5 million per year cash flow compared to 9 million in tax they wanted. That model of the Arena was effectively the flames paying 100% of the Arena cost if you considered them losing the current property tax exemption. The city NPV on their investment was about zero (actually slightly positive meaning they made money on the deal) if you considered the property tax an income stream. So the city increased their offer by about 184 million from the previous one.

Under the flames proposal the city paid 280 million up front with no cost recovery or other benefits. So the flames changed their proposal by sharing the ticket tax revenue which is worth about 100 million to the city.

So the City moved more than the flames did but extracting an extra 100 million was pretty good. More importantly they gained control of the project and put it into the capable hands at CMHC.

[Resolute 14]

Originally Posted by Table 5

The "comedy" in this thread is painful.

Agreed.

A lot of people in here think they writing Beaverton quality jokes when they actually writing Calgary Sun quality jokes.

[sureLoss]

Stampede will still manage all parking in or around Stampede Park.

CSEC and Stampede will share parking revenues for CSEC events.

[dammage79]

Originally Posted by sureLoss

CSEC will be granted the option to acquire land from CMLC in the Rivers District based on the value prior to creation of the event committee. This option will acquire expire when CSEC moves in to the event centre.

CSEC will be granted the option to acquire bus depot land if the city makes it available for development. Value is current value price and this option will expire 10 years after CSEC moves in to the event centre.

So Bus Depot Land = new Football Stadium or "Fieldhouse"?

[Resolute 14]

Originally Posted by Slava

I guess someone has to be that guy...so here's the thing. The "financials" are pretty hollow for this "great deal". Like to the point where a couple posters here have touched on NPV/TVM and in their work-up it's just plain ignored. Why is this such a rush to get rammed through all of a sudden?

Frankly, I'm rather surprised that everyone here is completely onside. This proposal/agreement is pathetic in financial detail and I tend to think that's kind of a big deal.

As much as it is a cheap and tired rebuttal, the new public library is also a crap deal financially.

But it, like the events centre, are public gathering places that the public uses and enjoys.

We all know that a sporting venue is virtually never a money making investment. Repeating that fact simply doesn't matter. All most of us care about is that the city isn't paying for the entire thing.

[Wolfman]

Originally Posted by Resolute 14

Agreed.

A lot of people in here think they writing Beaverton quality jokes when they actually writing Calgary Sun quality jokes.

[Resolute 14]

Originally Posted by sureLoss

Stampede will still manage all parking in or around Stampede Parking.

CSEC and Stampede will share parking revenues for CSEC events.

Do you know how that works at present? I'm not sure CSEC gets anything outside of the northeast parkade and lot A at present, but that was one of the things I never really found out for sure.

[topfiverecords]

Originally Posted by Resolute 14

Agreed.

A lot of people in here think they writing Beaverton quality jokes when they actually writing Calgary Sun quality jokes.

Wow, excellent! We weren’t even aiming that high.

[ComixZone]

Originally Posted by TheScorpion

The James Neal Centre for Players Who Can't Play Good.

My favourite post of the year. Well done Scorp.

[GGG]

Originally Posted by Resolute 14

As much as it is a cheap and tired rebuttal, the new public library is also a crap deal financially.

But it, like the events centre, are public gathering places that the public uses and enjoys.

We all know that a sporting venue is virtually never a money making investment. Repeating that fact simply doesn't matter. All most of us care about is that the city isn't paying for the entire thing.

Not to derail this but the big 4 sport leagues all have the means to pay for their own venues. All of these venues make large profits for players and owners. The comparison to the library is ridiculous and has been argued to death.

Slavs is right that the infographic could still turn into the Edmonton deal once all the details of land swaps, financing and terms come out

[sureLoss]