New Poll on Arena issue

[troutman]

Originally Posted by kevman

So Katz chipped in $23.68 million or 4% of the total cost. The rest came from government sources or user fees. Great deal for the city!

He also put in $100 Million initially (first paragraph).

[Table 5]

As the question is posed, with an implicit threat to move, $0.

If they avoid those tactics, I'd support up to $50M as long as the funding is for public realm/transit type of improvements...ie things that can be utilized by the general public without having to pay for an arena ticket.

[kevman]

Originally Posted by troutman

He also put in $100 Million initially (first paragraph).

Through lease funding. My condolences that the Oilers have to pay to use the arena that the tax payers mostly paid for.

https://web.archive.org/web/20160313...ct_Funding.pdf

[Bleeding Red]

The arena was funded by the following sources:[20]

• $279 million from the Community Revitalization Levy (CRL) and other incremental revenues (increased parking revenue, reallocation of existing subsidy paid to Northlands and new taxes from business in the arena)
• $125 million from ticket surcharge on all events in the new arena
• $137.81 million from lease revenue for the Arena
• $23.68 million in cash from Edmonton Arena Corporation
• $25 million from other government sources

So that is a total of $590.49 million of the $609 million cost of the whole project.

Who is the $137 in leases - isn't that the oilers? ergo - Katz?

[CorsiHockeyLeague]

Nothing. These things are terrible public investments. That said, improvements to the surrounding area wherever they build the thing are obviously fine public projects.

[kevman]

Also, don't forget that the biggest benefactor of the real estate boom in the surrounding area is the Katz group itself. They should easily make back their paltry investment in real estate profits.

No matter how you look at it, Edmonton got screwed. I'd be to show the Flames organization the door before agreeing to a deal like that.

[Calgary4LIfe]

I think the Flames will get some public dollars going towards a new arena, and I can live with that - as long as it is not a large amount (less than 20% or whatever figure seems fairly reasonable). If it is tied into an Olympic bid, then I would be ok with increasing it as long as it came from the Feds.

However, if the Flames for an instant threaten relocation or otherwise try and hold a gun to this city and its' fanbase, I would hope that all public funds are withdrawn, and I will go on to eventually find a new team to cheer for until the NHL gives Calgary a new organization. It would be silly to think that a market such as Calgary's would be without an NHL franchise for long.

If they pull that card, they might be dead to me after that. If they do proceed to move, I know eventually I will get over it and look forward to cheering on another team. Sure, it would probably hurt and sting for a while, but that is life sometimes.

[GGG]

Originally Posted by Table 5

As the question is posed, with an implicit threat to move, $0.

If they avoid those tactics, I'd support up to $50M as long as the funding is for public realm/transit type of improvements...ie things that can be utilized by the general public without having to pay for an arena ticket.

Agree with this. I would pay up to 50 million to prevent the flames from moving. I would not pay any based on them threatening to move.

[kermitology]

With a threat to move: don't let the door hit your ass on the way out.

If they offer a partnership arrangement as a loan with the city being repaid through a share of arena revenue, I'd be okay with up to $100M.

[Tinordi]

Forget revenue sharing. If they city is paying $100 million I'd want equity.

[Parallex]

Originally Posted by JiriHrdina

Thought this was a good approach to the question. Let's keep the broader discussion in the other thread.

It's a bit simple. My stance is that the City shouldn't engage in giving corporate charity to billionaires... if the city wants to make a business deal with CS&E I'm fine with that but the amount I'm comfortable seeing invested by the city depends on the amount of reasonably projected direct revenue received back in return.

To use a dated pop culture reference... "Show me the money!".

[Bunk]

I could see $100m as being acceptable - but it wouldn't likely be strictly cash. Some combination of land, investment (perhaps a stake in project with revenue upside), CRL, etc.

[FanIn80]

This city desperately needs a new arena. It's not just about the Flames, either. Whether anyone likes to admit it or not, major-league venues are the entertainment Meccas of the world; and The Canadian Airlines Olympic ScotiaPen Saddledome is our current contribution to that standard.

Every time a major act goes to Edmonton instead of Calgary (the Dome is too outdated to support current stage requirements) it says something about Calgary's place in the world.

There's also the residual impact on the city. A person could, quite literally, live in this city their entire life without ever setting foot inside the arena, yet still benefit almost daily from its existence - so yes, tax dollars should absolutely pay for it to be built. 100%? no, that's ridiculous; but so is 0%.

[oldschoolcalgary]

the leases is katz, but its not like they weren't paying lease money to Rexall, as far as i know... so the Oilers would have had to pay someone anyways... not really a hardship...i'd be like getting my parents to buy me a new car, but i would pay for the gas and insurance, no?

i stand by my feeling that if public money is invested, i would want some stake in the team...

this minor stake wouldn't have any power on operations, but really would only trigger if the Flames want to move to another city....Once the public funds are paid out (ie the arena is paid out and in the black) then the minority stake would revert back...

its basically insurance that the City isn't left with a white elephant like Glendale or STL

[ResAlien]

I'll echo the same sentiment several have shared and say as the question is posed zero dollars. If the Flames want to threaten to move I'll still follow the Seattle Flames or Quebec City Flammes but that kind of tactic can eat a hard one. I'm not a fan of giving billionaires public funds for their private businesses but I can see why some people are.

[Hemi-Cuda]

If they threaten, call the bluff. No way the NHL abandons one of the highest revenue markets they have, at least not for long

[albertGQ]

How much did Rogers pay for their 10 year naming rights agreement?

[Erick Estrada]

Is this just for the arena or for both arena and football stadium? IMO they are linked. $500 million for both could be justified but not the arena on it's own.

[HotHotHeat]

Lol at the results. The Flames are damn lucky to have a fanbase as blind to business realities as this one. Thankfully Nenshi laughs at Ken 'leave it to me' King at their meetings.

[KingMoo]

please add "up to a trillion"