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

[Red_Baron]

Calgary will finally have a sports venue that can compete with the facilities for pro teams in cities known for their riches like Winnipeg or Regina!

[Goriders]

Originally Posted by Paulie Walnuts

Why would Smith be allowed to come to this. What a joke trying to get votes.

Because she funded a quarter of the cost I would assume. Same reason Gondek is there.

[Cali Panthers Fan]

I don't get most of you.

Okay, so money is being spent, taxpayer money. Guess what? That money has already been collected, so you aren't getting it back. What would you rather do with it?

There is a lot of cynicism in government and corporations, and I get that, but honestly, y'all aren't being cynical enough.

The reality is that if you want to keep Calgary relevant in the view of North America, you have to have a major event center, and realistically, it needs to keep a professional sports team. It's smoke and mirrors, but it gives the impression that you're better than maybe you really are. If you lose that, you fall into a bracket of lower end cities that cannot attract investors. It's dumb, but the places that touring artists are willing to go to and NOT willing to go to matter for public perception.

This is an investment in Calgary as an idea of a modern vibrant city. These groups all believe that this will not only maintain a franchise in Calgary, but it will help to develop a part of the city into a space that will support small business, hotels, and possibly even residential development. All of that takes a city from being slightly run-down where investors are wary of bothering to look at it all, into a place where people want to put their money because they see opportunity.

It's all a game folks. Create the impression that the city is thriving with public investment and private investments will come. The people benefit in the long run, and the public dollars end up being well spent.

The alternative is really grim. If you want examples, look at any number of crumbling cities across North America that do not invest public dollars into big projects.

In short, you all will be happy in the long run. Stop bitching and be thankful that anyone is still willing to spend money on this.

God, it's a miracle that the funding for the Olympics happened at all.

[Cali Panthers Fan]

Originally Posted by The Fisher Account

How SOME arenas get built.

Pretty sure Climate Pledge, UBS and TMobile were all privately financed.

All those communities have ridiculous amounts of money to throw around. Between tech, finance, and casinos, there's a lot of capital to throw into a project.

[Goriders]

Originally Posted by nik-

Wishing we'd be the city that finally stood up to these owners was a foolish dream. I'm guessing it took a unelected AM radio talk show host for boomers throwing more of our money in to make Edwards happy.

You’re right. We should have stuck it to the man.

[FlamesAddiction]

Originally Posted by FiveSeven

How ####ing overplayed is this who pays for what.
Nobody has a real say where our money goes, governments waste copious amounts of money on dumb, useless crap anyway.
WE GET AN ARENA. LFG! Getting upset about things out of your control is so stupid. Just focus on the fact that we finally *HOPEFULLY* get a sweet new barn.

That kind of how I feel as well. If the money doesn't get spent on this, it will get spent on something else, probably equally as frivolous (Olympic bids, folk festivals, and so on). Some of the infrastructure improvements and the eventual demolition of the Dome are going to happen eventually anyway. Money for social programs and the likes has already been budgeted for and it won't be going into that pot. You're also unlikely to see a rebate in taxes or anything like that. If a new arena doesn't get built out of this and the Flames leave town, the City and province are still going to spend district improvements and facilities, only they will be doing it without the Flames as an anchor tenant.

You might as well see something nice and long lasting out of it. If the fear is that spending on this project will take away hospitals and homeless shelters, I doubt that is the case. If it is just the idea of multi-millionaires benefiting from it, then welcome to the world I guess.

[Aarongavey]

Originally Posted by Cali Panthers Fan

All those communities have ridiculous amounts of money to throw around. Between tech, finance, and casinos, there's a lot of capital to throw into a project.

If only there was a sector that Calgary was known for that could oil the machine to build a privately funded arena. If there was only some of that capital fuel in Calgary to pay for a privately funded arena.

[Red_Baron]

Originally Posted by Aarongavey

In Quebec the Habs paid for their own arena. But different political culture there, less reliance on government handouts.

In LA it was private funded

In Vancouver it was privately funded

In Toronto it was privately funded

Boston it was privately funded

But some places in North America have the taxpayer pay for the arena, like Calgary.

The only one of those cities listed that is any way and shape comparable to the population of Calgary is Vancouver and building that arena bankrupted Arthur Griffiths.

The Molson Family also had to sell the Canadiens due to the arena bankrupting them, same thing happened in Ottawa and the group that built Canada Life Place in Winnipeg.

Toronto are the only team to stay afloat after building their own arena and this is a team that has managed to keep a second team out of Southern Ontario despite it being the largest hockey market in the world.

I know a lot of you hate Murray Edwards but give him some credit, he's not dumb enough to bankrupt himself building his own arena.

[FormerPresJamesTaylor]

Originally Posted by Cali Panthers Fan

What would you rather do with it?.

Healthcare, education, affordability, transit, general safety. Just off the top of my head. No one is saying don't invest in major projects, not just a hockey arena that we then have to pay to get into. The idea that the money is already collected so it's okay if they blow it is utterly absurd

[Fuzz]

Originally Posted by Cali Panthers Fan

I don't get most of you.

Okay, so money is being spent, taxpayer money. Guess what? That money has already been collected, so you aren't getting it back. What would you rather do with it?
-snip-

First off, that's a dumb way to look at spending tax dollars. Second, what to do...oh I dunno, maybe fund our healthcare system so I don't have a 3 year wait to have an initial consultation with a specialist? Or not run out of ambulances, or have a 70 000 surgery backlog, or close down ER's and entire hospitals because they don't have staff, or have kids in trailers for hospice care because they have no space. Or, ####, I dunno, how about we just give it to billionaires instead and deride anyone who has other priorities for funding things and tell them to shut up and be happy.

[Cali Panthers Fan]

Originally Posted by Aarongavey

If only there was a sector that Calgary was known for that could oil the machine to build a privately funded arena. If there was only some of that capita fuel in Calgary to pay for a privately funded arena.

From what I understand, it's still a volatile industry, so long term investment from private capital seems risky when the market ebbs and flows regularly.

In short, commodities are very different economically compared to tech, finance, and casinos. Those are perpetual cash creating machines. commodities are prone to market fluctuations in a major way.

[calgarygeologist]

Originally Posted by Red_Baron

Calgary will finally have a sports venue that can compete with the facilities for pro teams in cities known for their riches like Winnipeg or Regina!

Hopefully the new rink is a lot more visually appealing than what exists in Winnipeg.

[Cali Panthers Fan]

Originally Posted by FormerPresJamesTaylor

Healthcare, education, affordability, transit, general safety. Just off the top of my head. No one is saying don't invest in major projects, not just a hockey arena that we then have to pay to get into. The idea that the money is already collected so it's okay if they blow it is utterly absurd

Would infrastructure and opportunities for business development not also be a wise investment?

[powderjunkie]

Originally Posted by PepsiFree

That’s because most sensible have the ability to get over something, especially years and years after the fact. Not sure that’s a bold prediction or anything.

There are people that still complain about the library. There are people that still complain about public art. Hell, there are probably people who still conplain about the peace bridge. The one thing in common? They all use those things as examples of spending they hate as justification for why the city should spend on something they love. Namely: an arena.

So, sure, reasonable people are going to accept reality and get over it once the arena is built. Why wouldn’t they? Doesn’t mean fawning over this deal now is a reasonable position to take.

That's not how this works. Actually, most reasonable people would agree with me, and anything else is nonsense.

How am I doing at this message board thing?

[browntrout]

Originally Posted by Aarongavey

In Quebec the Habs paid for their own arena. But different political culture there, less reliance on government handouts.

In LA it was private funded

In Vancouver it was privately funded

In Toronto it was privately funded

Boston it was privately funded

But some places in North America have the taxpayer pay for the arena, like Calgary.

You are right not all arenas are publicly funded, but half are, give or take. Seems like the small market teams often get the short end of the stick... anyways happy for the team...some much needed good news

[FormerPresJamesTaylor]

Originally Posted by Cali Panthers Fan

Would infrastructure and opportunities for business development not also be a wise investment?

Sure, not based around a hockey arena that billionaires can buy themselves. They can do both those things without the arena element.

[Red_Baron]

Originally Posted by calgarygeologist

Hopefully the new rink is a lot more visually appealing than what exists in Winnipeg.

I dunno, it looks as good as anything else in Winnipeg. Inside the 2 arenas, the saddledome is a dump in comparison.

[Cali Panthers Fan]

Originally Posted by Fuzz

First off, that's a dumb way to look at spending tax dollars. Second, what to do...oh I dunno, maybe fund our healthcare system so I don't have a 3 year wait to have an initial consultation with a specialist? Or not run out of ambulances, or have a 70 000 surgery backlog, or close down ER's and entire hospitals because they don't have staff, or have kids in trailers for hospice care because they have no space. Or, ####, I dunno, how about we just give it to billionaires instead and deride anyone who has other priorities for funding things and tell them to shut up and be happy.

Most of those things are built off income tax. If your economy is struggling because nobody is investing money, then you need to do something to promote investment and create jobs, wealth, and higher income so you can tax those people and fund those programs appropriately.

Again, it's a bit of a game to attract investment. All that oil money isn't necessarily staying in town, but if you create opportunities for wealth generation, then maybe it does and you can reap the benefits long term.

It's not fair, I get it, but it's not like there's another path unless you're willing to go to a completely different economic system.

[Cali Panthers Fan]

Originally Posted by FormerPresJamesTaylor

Sure, not based around a hockey arena that billionaires can buy themselves. They can do both those things without the arena element.

But they haven't and they won't.

[Aarongavey]

Originally Posted by Red_Baron

The only one of those cities listed that is any way and shape comparable to the population of Calgary is Vancouver and building that arena bankrupted Arthur Griffiths.

The Molson Family also had to sell the Canadiens due to the arena bankrupting them, same thing happened in Ottawa and the group that built Canada Life Place in Winnipeg.

Toronto are the only team to stay afloat after building their own arena and this is a team that has managed to keep a second team out of Southern Ontario despite it being the largest hockey market in the world.

I know a lot of you hate Murray Edwards but give him some credit, he's not dumb enough to bankrupt himself building his own arena.

Molson family never sold the Habs, they still own the Habs

The exact same group that paid for 70% of the arena in Winnipeg still owns that arena and the Winnipeg Jets.

It is almost like privately financed arenas do not do what you say they do.