[News] CalgaryNEXT Announcement. New arena details emerge.

[JohnnyT]

Originally Posted by jschick88

Dave Dormer ‏@SunDaveDormer
So essentially the @NHLFlames will be asking for $690 million in taxpayer funds to build @CalgaryNext #yyc #yeg

Calgary Next ‏@CalgaryNext
@SunDaveDormer @NHLFlames Hi Dave, that's incorrect. Please attend the 2:30 press conference for full and correct information. Thank you!

Hahah "Hi Dave, shut up before you know your facts, thanks!"

[dammage79]

How long has this been floating around city hall now? I cannot imagine that KK would chuck this out there if the city and Flames were so far apart on the dollar figure that everyone would be pitching in. They must be close on an agreeable amount of money.

They should be close to what the figures are and maybe some bantering on the final tens of millions. Then again maybe not, what do I know?

[Locke]

Originally Posted by jschick88

Dave Dormer ‏@SunDaveDormer
So essentially the @NHLFlames will be asking for $690 million in taxpayer funds to build @CalgaryNext #yyc #yeg

Calgary Next ‏@CalgaryNext
@SunDaveDormer @NHLFlames Hi Dave, that's incorrect. Please attend the 2:30 press conference for full and correct information. Thank you!

Okay. Now I'm interested. Lets see them break this down.

I will say this though: The $890M price tag is complete hogwash. I'm guessing the Flames are going to be picking up some more tabs in the background.

[mesaywee]

Christ the complaining and pulling numbers out of thin air in these forums and the media is just insane.

[Ashasx]

Originally Posted by Erick Estrada

Taxpayers would have complained if the Flames asked for $100 million so you aren't exactly going out on a limb here.

well, that's kind of my point. I didn't really say anything obtuse.

[octothorp]

Originally Posted by Weitz

Except that would be $200 million to a city owned and controlled building. Will the flames own and operate this field house? Totally changes things.

I believe I read (on here or twitter) a KK quote that the city would own the land and the building.

[Otto-matic]

I was hoping King would show up like this.

[Tacopuck]

I think everyone stating that its too much "public" funds is over-simplifying the structure.

- $200M From Flames - Private Money
- $250M From Ticket Tax - Public Money - But money from people who are actually using the facility - Dont like it? Dont goto games.
- $240M From CRL - This is money from businesses and developments that will build in the area that directly benefit from the arena being there. If there was no arena that area would have a tough time developing into the same level of density as their are proposing. Also it is only a temporary tax, and with that kind of density will add a nice tax base adder for the city.
- $200M From the City - This is the only direct funding from the city wide tax base but considering it was already earmarked for the field house it benefits the whole city

I get the anti public funding sentiment however people need to look into the details of things a little more.

[Locke]

Originally Posted by mesaywee

Christ the complaining and pulling numbers out of thin air in these forums and the media is just insane.

Yeah, because its not a contentious issue or anything.

[longsuffering]

I bet they wish they could have announced this 2 years ago.

The Flames better be ready to pony up another $200 million if they hope to find popular support.

[Senator Clay Davis]

Originally Posted by IamNotKenKing

Where do you get this from?

$200 million direct from the city
$250 million ticket levy (the pretty word they use for tax)
$240 community revitilization levy (again, tax)

And that doesn't include infrastructure upgrades that will clearly be needed or the site cleanup.

[HotHotHeat]

So Flames ownership is willing to put up $200 million.

The organization is valued at $451 million, with the current arena accounting for $150 million of that. With a new building in place, seems reasonable the value of the team would jump by $100-150 making the Flames worth north of $600 million.

The benchmark for profiting off an 'event centre' is the Staples Centre, which pulls in $345 million annually in revenue. Even in the Flames pull in a third of that, their portion of the cost is recovered in well under 10 years.

Yea, I don't think so, Murray.

[1991 Canadian]

Originally Posted by Royle9

Yea, YEA.. like a $25 million dollar BRIDGE THAT'S GLOWY and RED!

While expensive, its hard to argue against having something like this in the city of Calgary, we'll see what happens.

You don't need to be wealthy to use and enjoy the bridge. Based on current ticket price trends, the cheapest seats at this new venue will probably be around $50 a ticket.

I think its a huge slap in the face to people who can't afford to go to arena events as is to make them pay for a new one.

If the Flames cannot make the project work with their own money / ticket taxes, it should not proceed. Simple as that.

The hundreds of millions of taxpayer dollars are better spent on things everyone in the community can enjoy. Libraries, parks, schools, transportation infrastructure, etc...

I'm fortunate enough to come from a wealthy family. I go to dozens of Saddledome events every year. I just don't think it fair to make other people subsidize my entertainment.

[Isbrant]

For anyone that was wondering, this a a link to the final agreement between Edmonton and Katz for the new arena in Edmonton.

http://www.edmonton.ca/city_governme...agreement.aspx

I still feel Edmonton got bent over on this.

[Weitz]

Yah this whole thing leaves out all the money that will be required to do such things like:

Redevelop the Sunalta LRT or build a new one
Pay to change the road infrastructure.
Etc..

Who is going to pay for all that?

[IliketoPuck]

I would caution against jumping to conclusions.

We do not know the entire funding picture yet, and will have more information shortly.

I will reserve my thoughts on the proposal until I've seen it in it's entirety, I encourage you all to do the same.

[sureLoss]

One big issue that the current proposal does not seem to handle is parking.

Renderings don't show a lot of parking space.

[Resolute 14]

Originally Posted by 1991 Canadian

I think its a huge slap in the face to people who can't afford to go to arena events as is to make them pay for a new one.

You can easily get to Calgary Hitmen playoff games for $12.

If you can't afford that, then you've got big problems.

I'm fortunate enough to come from a wealthy family. I go to dozens of Saddledome events every year. I just don't think it fair to make other people subsidize my entertainment.

So you are opposed to libraries, museums and parks too?

[flambers]

Originally Posted by HotHotHeat

So Flames ownership is willing to put up $200 million.

The organization is valued at $451 million, with the current arena accounting for $150 million of that. With a new building in place, seems reasonable the value of the team would jump by $100-150 making the Flames worth north of $600 million.

The benchmark for profiting off an 'event centre' is the Staples Centre, which pulls in $345 million annually. Even in the Flames pull in a third of that, their portion of the cost is recovered in well under 10 years.

Yea, I don't think so, Murray.

Apples to Oranges type of an comparison. City (i.e. Field House) and Pro Sports (NHL and CFL) infrastructure are within the picture.....

Again, why not wait until all facts are known......

[johnnybegaudreau]

Originally Posted by Frequitude

The city had already budgeted $200M for a fieldhouse. That money will now go towards this and they'll get the same thing but better. I don't see the problem. Unless people didn't want money going to a fieldhouse in the first place.

I am surprised that the Flames didn't throw in a token share of the $330M cost savings due to the shared design. Like, say even just make it $190M so you can tell tax payers this helped save them money vs a previous budget.

No they haven't budgeted it. They put it the capital planning.. but they haven't found the moeny for it at all. It's a "future consideration"