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

[Bonded]

Originally Posted by GullFoss

The city is likely going to debt finance CSECs portion, so most of this extra money is just a pass through. CSEC pays interest to the city and the city pays it to their lender

I have no idea what fair rent for an arena is but it is crazy the Flames basically got an arena for 40 million dollars and rent costs.

[browntrout]

While I have to respect everyone's opinion, I do find it odd that hockey fans are upset that their government is spending money so that a professional sports team will stay in Calgary

I get you want to make a point...that this is tax dollars going towards a billionaire...but this is how arenas are built in north America

[Tron_fdc]

Originally Posted by Rutuu

He didn't take the politicians to the woodshed...he took YOU to the woodshed. The politicians are merely trying to buy your votes, which they will have done successfully.

So they both win...and YOU lose...but think you won.

Win - win - win?

This also has the potential to be even worse if there are cost over runs,
Which there 10000% will be.

[The Fisher Account]

Originally Posted by browntrout

I get you want to make a point...that this is tax dollars going towards a billionaire...but this is how arenas are built in north America

How SOME arenas get built.

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

[Ozy_Flame]

Looking forward to $38 for two pints of craft beer (after tip, of course).

[Aarongavey]

Originally Posted by Reggie Dunlop

Murray should pay for the cleanup on some of his wells.

There is a different pot of provincial money for that.

[Muta]

Originally Posted by calgarygeologist

If they can't find the funds for a good underground connection between the station and event centre, just over a block, it is a major fail. Between the funds for the green line and the $1.2B for this project they should be able to make a stunning, flagship underground pavilion.

Dude, you're pretty much preaching to the choir here. I agree there should be an underground connection. I just don't see it happening, and I hope I'm completely wrong!

[The Fisher Account]

At this point why would Murray ever even want to pay for anything?

He probably also gets the Child Care Subsidy from the province!

[DiracSpike]

Originally Posted by Reggie Dunlop

Murray should pay for the cleanup on some of his wells.

CNRL spent 449 million dollars on well abandonments last year.

[Aarongavey]

Originally Posted by browntrout

While I have to respect everyone's opinion, I do find it odd that hockey fans are upset that their government is spending money so that a professional sports team will stay in Calgary

I get you want to make a point...that this is tax dollars going towards a billionaire...but this is how arenas are built in north America

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.

[PepsiFree]

Originally Posted by DiracSpike

The usual crowd scoffed at that deal too at the time, but you’d be hard pressed to talk to anyone in Edmonton that regrets that deal now. Ditched their dumpy awful barn for a great new building that has completely revitalized their downtown and secured the future of their hockey team for decades. Most reasonable people will feel the same about this in time, certainly better than being stuck with a crumbling half century old building in an underdeveloped part of downtown and no NHL team all in the name of “sticking it to billionaires” or some such nonsense.

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.

[topfiverecords]

Originally Posted by Bonded

Your math is close, it is actually a little light but the discounted value is 316 million

Total of 17 million, increasing by 1% each time for 35 iterations = $703.7million

[RM14]

Originally Posted by Hockey_Ninja

Does this event center come with a new football stadium or are the Stamps still stuck at McMahon?

McMahon Renovations are tied to the Foothills Athletic Park redevelopment which is coming. Eventually...

[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.

[Goriders]

Originally Posted by Sylvanfan

I see Kyle's mom is doing her pre-election spending. Everytime I see her I hear Eric Cartman start with my friend Kyle's mom is a big fat...

She might be shocked to find out how many Calgarians want the Flames gone and not have to pay for an arena on election day.

We want the Flames gone?

[bob-loblaw]

The Stamps should threaten to move to Saskatoon to get in on the provincial funding bandwagon.

Also, I hope the Edmonton and area electorate goes nuts about the deal and completely skunks the UCP in May. We win both ways - UCP loses and NDP has no choice but to vote for the deal. Not that I love Notley, but Smith is a moron.

[Vox]

Originally Posted by Aarongavey

What a terrible deal. Murray has to pay 40 million bucks up front and the taxpayer pays the other 900 million.

1.4M citizens as of last year, so my share of the $537M (not 900M) works out to $11 per year. Where can I happily send my check? My daughter will send her $11 out of her allowance so she can finally see a Taylor Swift concert. I'll increase my checks by 4% per year as well to cover my share of any interest costs, though I expect my check will still be smaller than $11 as the population grows over those 35 years and more of us split the cost. Murray makes a bit of money along the way? Meh, my son plays in a couple of the arenas his buddies helped fund so I'll call that a wash.

[White Out 403]

Is it possible this deal is even more of a fleecing than the oiler arena? Jesus christ. And right before an election. Smith will surely use this to buy Calgary votes. With our own money

[Goriders]

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.

Okay what? Quebec isn’t reliant on government handouts.

Oh boy.

[Shazam]

Originally Posted by Aarongavey

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

lolwut.