[News] Calgary, Alberta, & CSEC agree in principle to $1.223bn Event Centre + infrastructure

[csnarpy]

Originally Posted by Demzy84

By my calculation, he’s paying about 25%….wouldn’t call that free

No he’s not.

For the $873.6 million Event Centre itself he is paying $342.8 million. Which is about 39.1%

As well as 25% of the community rink.

All the other parts are just addons by the city and province. Thus it’s all done at once.

If you want to include the entire thing then the Flames are contributing 29%

[GullFoss]

I was listening to a podcast recently where a the guest commented that many billionaires have huge egos to feed and act like they're going to live forever. This deal screams that.

[Bonded]

Originally Posted by Cappy

ugh. this is a brutal deal

Yup. I was totally fine with a hard line stance from the city and province. Call the bluff and if the Flames leave so be it. Has it actually been confirmed the Flames are getting development rights etc like Rogers place?

[Reggie Dunlop]

Originally Posted by flambers

Question was asked again (after the clip you have shown), Sharp reply was we would expect the government to stand by the deal.

[AC]

https://twitter.com/user/status/1650998229108940802

[Jordan!]

Originally Posted by Johnny Makarov

LOL. Are you no longer a Coyote fan?

I can’t like more than one team?

I’ve also become a bit of a Golden Knights wagoner too (cloesest team if the yotes leave)

This deal is wild. Edwards surely must have threatened to leave

[Cleveland Steam Whistle]

Originally Posted by Bonded

It always been about how much the city and province would bend over for CSEC. That time was now.

People who say that are missing something.

The city isn't bending over for the CSEC at all. That's not what's going on here if you have the opinion you do. What's going on here is that your priorities and the city's (meaning the elected officials) aren't the same. It's your beliefs, and the city's that aren't aligned.

The difference is the city isn't a victim in reality. They are getting what they want, or some minor compromised version of what they want (same could be said for the CSEC). The city wants this project, they want to invest in this. CSEC isn't making them do anything they don't want to do, which is what your post implies.

BTW - I don't think its wrong to have an opinion on the city not spending money on this, what's wrong is to paint the CSEC as some bully and the city as helpless victims.

[GGG]

Originally Posted by csnarpy

No he’s not.

For the $873.6 million Event Centre itself he is paying $342.8 million. Which is about 39.1%

As well as 25% of the community rink.

All the other parts are just addons by the city and province. Thus it’s all done at once.

“Add-ons” that are required to actually make the plan work and in general aren’t required without the plan. This is specifically written to provide cover for the province funding 330 million of “community investments”. It will be interesting to see how it plays politically.

Also hidden in the deal is the real estate transactions from the stampede to CSeC which may have significant value.

I’ll hold off judgment until more details are released.

[Reggie Dunlop]

Read that the province footing the bill for demolishing the Saddledome.

[AFireInside]

Originally Posted by Cleveland Steam Whistle

People who say that are missing something.

The city isn't bending over for the CSEC at all. That's not what's going on here if you have the opinion you do. What's going on here is that your priorities and the city's (meaning the elected officials) aren't the same. It's your beliefs, and the city's that aren't aligned.

The difference is the city isn't a victim in reality. They are getting what they want, or some minor compromised version of what they want (same could be said for the CSEC). The city wants this project, they want to invest in this. CSEC isn't making them do anything they don't want to do, which is what your post implies.

BTW - I don't think its wrong to have an opinion on the city not spending money on this, what's wrong is to paint the CSEC as some bully and the city as helpless victims.

The way I see it is the province stepped in to help pay the CSEC's portion. So taxpayers are getting screwed without a doubt, while billionaires are getting a ridiculous deal.



This deal is worse than the original which I thought was pretty bad.

[Bonded]

Originally Posted by Cleveland Steam Whistle

People who say that are missing something.

The city isn't bending over for the CSEC at all. That's not what's going on here if you have the opinion you do. What's going on here is that your priorities and the city's (meaning the elected officials) aren't the same. It's your beliefs, and the city's that aren't aligned.

The difference is the city isn't a victim in reality. They are getting what they want, or some minor compromised version of what they want (same could be said for the CSEC). The city wants this project, they want to invest in this. CSEC isn't making them do anything they don't want to do, which is what your post implies.

BTW - I don't think it’s wrong to have an opinion on the city not spending money on this, what's wrong is to paint the CSEC as some bully and the city as helpless victims.

I’d believe this line of thinking more if CSEC didn’t blow up the last deal and they were actually negotiating in good faith. Murray took his oil and gas negotiation style and used it here.

[GullFoss]

Imo...high chance this facility is connected to an Olympic bid given the community arena addition

[Cleveland Steam Whistle]

Originally Posted by AFireInside

The way I see it is the province stepped in to help pay the CSEC's portion. So taxpayers are getting screwed without a doubt, while billionaires are getting a ridiculous deal.



This deal is worse than the original which I thought was pretty bad.

Did I miss something later in the Q&A. The province isn't paying for ANY of the arena cost (the Premier said that herself) is what I heard. They are paying for infrastructure outside of the scope of the project (much of which they'd have paid for anyway, especially in the old deal), and they were just brought in to blur the lines on how much this actually costs (so that no one can really figure out who's paying what) and brought in so she could tie herself to something she thinks will help her election chances.

[Bonded]

Originally Posted by AFireInside

The way I see it is the province stepped in to help pay the CSEC's portion. So taxpayers are getting screwed without a doubt, while billionaires are getting a ridiculous deal.

This deal is worse than the original which I thought was pretty bad.

When’s the last time an attempted vote grab was this obvious lol

[Cappy]

Originally Posted by Cleveland Steam Whistle

Did I miss something later in the Q&A. The province isn't paying for ANY of the arena cost (the Premier said that herself) is what I heard. They are paying for infrastructure outside of the scope of the project (much of which they'd have paid for anyway, especially in the old deal), and they were just brought in to blur the lines on how much this actually costs (so that no one can really figure out who's paying what) and brought in so she could tie herself to something she thinks will help her election chances.

why does it matter? the infrastructure needs to be built. It's just semantics

[oldschoolcalgary]

1.22 bn huh?

Don't get me wrong, I believe Calgary absolutely needs a new stadium and that some form of public/private makes sense...I'd have to see more of the project to get a clearer sense of what everyone is getting at 1.22 billion though...

any chance of getting someone one board for a GMP (guaranteed maximum price) contract?

[GullFoss]

Originally Posted by GullFoss

Imo...high chance this facility is connected to an Olympic bid given the community arena addition

"Due to impacts from climate change, the IOC is considering a number of changes to future games, such as rotating host cities"

Could Calgary be a rotating host city?

[flambers]

Originally Posted by oldschoolcalgary

1.22 bn huh?


any chance of getting someone one board for a GMP (guaranteed maximum price) contract?

Not a chance,

[Muta]

Just as a reminder, the UCP's $1.4B bet on Keystone, a pipeline that even a drunk orangutan on mushrooms could have predicted wouldn't get built, could have paid for this entire project. At least we get an actual, physical building in this provincial purchase, and not an expensive hope and dream.

[Royle9]

How much do people honestly think this is going to “personally screw” them as a taxpayer?
Did you honestly think/hope nothing would get done?
Did you think CSEC was going to magically put up 50%+ this time around?

This deal makes sense, the only issue is the provincial funds aren’t guaranteed and the election could blow this up again.