Quote:
Originally Posted by Two Fivenagame
Oh there will be a huuuuuuge amount of public funding for a project of this (hinted) size.
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I think that's one reason the West Village area is the likely preferred location. It's probably the best place to build that they're likely to get infrastructure funding from all three levels of government without it being specifically funding for a new arena.
In 2009, Mayor Bronconnier said the area would require between 30 and 100 million dollars in environmental remediation to make it safe to develop (
http://www.calgarycitynews.com/2009/...city-west.html). That's funding that they should be able to get from all three levels of government and it will have to be spent regardless of what goes onto the land.
The current redevelopment plan for the West Village was approved by Council in July 2010 (
http://postmediacalgaryherald.files....illage_arp.pdf). If they build a sports and entertainment district there, the current plan would have to be scrapped, but one aspect of the plan that I could see them salvaging would be the realignment of westbound Bow Trail to reclaim the riverfront. The plan also includes a revamped Bow Trail/14th Street interchange. Again, this is money that will need to be spent no matter what gets built in the West Village.
I think that's how they'll sell it to the general public, the money will need to be spent whenever development of the West Village goes ahead, and this will get the development going sooner rather than later. It's a better and better-looking use of the land than what is currently there. It would result in a better riverfront pathway and public space along the river. New developments, such as restaurants, bars, and hotels will generate more tax revenue for the city than Greyhound and the car dealers do now.
Based on the way King was speaking so openly about things this morning, I wouldn't be surprised if an announcement was coming very soon...finally.
