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

[Rutuu]

Originally Posted by Lanny_McDonald

What's cool about this is there will be taxpayer facilities for all to take advantage of. For those who are pissed about the tax dollars going to a new entertainment district you have a big wonderful taxpayer funded library to hang out at on game nights! If libraries aren't your bag, there's always the National Music Centre. Or you can always take in one of the Olympic venues. Lot's of taxpayer funded fun to be had!

I use tax payer funded facilities all the time. Murray Edwards doesn't get all of the revenue from those tax payer facilities though.

Imagine pitching the deal as 50/50...but when the revaluation of the flames comes out and the increase in operating income is realised, one partner is going to be up $400m...and the other is going to be wondering why they're buying a $16 beer with $12 popcorn.

Also...can't wait to hit the Arena district from late June - September...it'll be the best place to listen to the wind blow, unless there are hotels, retail, condos, alternative entertainment, etc built around the facility.

[Goriders]

Originally Posted by PuckSlap

Hey Guy, we got some awesome news today, let's stop fighting and just celebrate this victory! This is ####ing awesome!!!!

Sent from my Pixel 7 Pro using Tapatalk

You must be new here.

[GreenLantern2814]

Originally Posted by Rutuu

I use tax payer funded facilities all the time. Murray Edwards doesn't get all of the revenue from those tax payer facilities though.

Imagine pitching the deal as 50/50...but when the revaluation of the flames comes out and the increase in operating income is realised, one partner is going to be up $400m...and the other is going to be wondering why they're buying a $16 beer with $12 popcorn.

Also...can't wait to hit the Arena district from late June - September...it'll be the best place to listen to the wind blow, unless there are hotels, retail, condos, alternative entertainment, etc built around the facility.

Ahem.

Shut the #### up.

[TrentCrimmIndependent]

Quick, touch shovels to ground before all parties come out of their haze/trance/inebriation, or generally have time to reflect.

We've already been shown that an agreement in principle means nothing.

[Reggie Dunlop]

Originally Posted by TrentCrimmIndependent

Quick, touch shovels to ground before all parties come out of their haze/trance/inebriation, or generally have time to reflect.

We've already been shown that an agreement in principle means nothing.

Yes, let's not discount the very strong possibility the whole conflagration collapses like a burning pyre of cards.

[Weitz]

So what happens when Danielle smith loses and the arena is unfunded?

What a waste of our tax money.

[Reggie Dunlop]

Originally Posted by Lanny_McDonald

What's cool about this is there will be taxpayer facilities for all to take advantage of. For those who are pissed about the tax dollars going to a new entertainment district you have a big wonderful taxpayer funded library to hang out at on game nights! If libraries aren't your bag, there's always the National Music Centre.

Damned if I'm spending nine bucks at Lukes for a large Americano when I check out a book when I have Folgers at home and a Free Little Library down the street!!!

[getbak]

By framing the Provincial contributions as "infrastructure improvements" (which is straight out of the playbook for giving public money to an arena/stadium project while still claiming there's "no public money" going to the new building), I wonder if that makes it easier for the NDP to hold their noses and go along with the deal?

They can say they support infrastructure improvements throughout the Province and it's up to the local councils to determine their own priorities. Since council voted unanimously in favour of this, they can pass it off as a high local priority and they won't stand in the way.

[Cole436]

Almost a billion dollars in public funds for this. What an absolute joke.

[accord1999]

Originally Posted by Aarongavey

They could have easily used this 567 million dollars to reduce or eliminate those user fee increases but instead it went to a private company.

They wouldn't because that money was saved into the Major Capital Projects Reserve starting in 2019 specifically to help pay for several high priority capital projects; the event centre, the BMO Centre and Arts Common expansions and the field house.

https://calgaryherald.com/news/local...rojects-report

[curves2000]

I go back to my original comment about how the city and the provincial government are literally paying Flames ownership the money to build this event center. No way around that. No amount of political spin makes up for it.

Flames are getting the opportunity to build this thing for nest to nothing. I know some people argue about how great this is and how the team is going to stay etc, the Flames are going nowhere and that was evident.

The city got royally ****ed, full stop. They had a little leverage and they pissed it away. I know I come off as a negative Nancy, but let's get real. Why does the ownership group get the ability to collect naming rights on a building not belonging to them? It's the equivalent of an average citizen getting the ability to rent city hall, the library or a rec center and collect the revenue from a building they don't own.

I love that the deal is officially done, I have no doubts that the building and district will be great. It just burns me that people are making money on this without actually contributing to it and the only reason why it's allowed is shady business practices. Your average citizen, even if they wanted to and could afford to finance this, can't.

We get screwed and are suppose to be thankful.

[Patek23]

People can gripe about the tax money. But I think over the span of the new arenas life time it will have been a overwhelming positive for the city and surrounding area.

Prior to Edmontons new arena Id never really been up there. Since than Ive attended two concerts and a hockey game. That means money for restaurants, hotels, shopping centers etc. People seem to quickly over look the ripple effect having quality attractions coming to town brings. I dont see how this can be seen as a negative for this city.

[Oil Stain]

Can't say I'm thrilled about $300 million dollars of provincial public money going to a facility that the majority of people won't be able to afford to enter.

If it's anything like other new arenas it will have 15 new types of luxury seating that are completely unaffordable for 99% of Flames fans, and the upper bowl tickets prices will rise ~30% to allow ownership to "only" charge $10-15k per seat, per season for the new upper echelon seating.

[flambers]

Originally Posted by Oil Stain

Can't say I'm thrilled about $300 million dollars of provincial public money going to a facility that the majority of people won't be able to afford to enter.

.

By definition the 300 million is not going to the arena, rather to the infrastructure around the arena (Green Line LRT, new road, road expansion, etc). All of these were mentioned during the Q&A

[Fuzz]

Originally Posted by Cali Panthers Fan

Sharp was very clear that the vast majority of the city contribution was already allocated to this project. I'm just using her words. It's likely true because the deal was already approved and then rescinded. So, it's likely they were obligated to spend this toward some sort of project around a facility.

So yeah, the money was already spent.

This has to be some of the flimsiest logic presented in this thread.

[Fuzz]

Originally Posted by flambers

By definition the 300 million is not going to the arena, rather to the infrastructure around the arena (Green Line LRT, new road, road expansion, etc). All of these were mentioned during the Q&A

Exhibit A in "falling for it".


It's like if your neighbour decided to build a mansion, but because of that your yard gets torn up, and while you get a very nice yard to replace what was there, you had to pay for it, and also loan your neighbour money for the mansion.

[Aarongavey]

Originally Posted by accord1999

They wouldn't because that money was saved into the Major Capital Projects Reserve starting in 2019 specifically to help pay for several high priority capital projects; the event centre, the BMO Centre and Arts Common expansions and the field house.

https://calgaryherald.com/news/local...rojects-report

They spent all the money on one of the projects (the Arena) and left nothing for the field house and the Arts Common (assuming all this money is coming from existing funds and no new taxes).

[Looch City]

Public funds should be tied to the hockey team’s performance.

That should be motivation enough for the ownership to get us out of this constant mediocrity phase.

[Aarongavey]

Originally Posted by Rutuu

I use tax payer funded facilities all the time. Murray Edwards doesn't get all of the revenue from those tax payer facilities though.

Imagine pitching the deal as 50/50...but when the revaluation of the flames comes out and the increase in operating income is realised, one partner is going to be up $400m...and the other is going to be wondering why they're buying a $16 beer with $12 popcorn.

Also...can't wait to hit the Arena district from late June - September...it'll be the best place to listen to the wind blow, unless there are hotels, retail, condos, alternative entertainment, etc built around the facility.

Late June, love your optimist about how late the Flames will be playing. It is more like from late April until late September.

[heep223]

However you stand on the private/public money thing, the real tragedy is that delaying this project for so long has resulted in what will likely be the worst possible timing from a cost perspective. Dead smack in the middle of the highest inflation we've seen since the 1970s.