09-15-2017, 09:11 AM
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#401
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Franchise Player
Join Date: Dec 2005
Location: Moscow
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^ that offer is more than fair. No loan repayment. Only property tax.
__________________
"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
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09-15-2017, 09:12 AM
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#402
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First Line Centre
Join Date: Oct 2001
Location: The centre of everything
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That appears like a very fair and reasonable deal from the City.
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09-15-2017, 09:13 AM
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#403
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Lifetime Suspension
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Quote:
Originally Posted by sureLoss
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Sounds like a bloody amazing deal to me, even if the Flames have to return the City's (our) money through a lease.
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09-15-2017, 09:13 AM
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#404
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Powerplay Quarterback
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If the 185 MM contribution from the City is not a loan, I don't see how that deal isn't taken.
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09-15-2017, 09:13 AM
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#405
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Franchise Player
Join Date: Feb 2007
Location: A small painted room
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'We are no longer pursuing an arena in Calgary'
-Ken King
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09-15-2017, 09:14 AM
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#406
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Crash and Bang Winger
Join Date: Jul 2010
Location: Alberta
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That's a very fair deal by the City.
__________________
Emotionally exhausted and morally bankrupt
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09-15-2017, 09:15 AM
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#407
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Scoring Winger
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Quote:
Originally Posted by cal_guy
Another question I like to ask is does this project need to be in the $500-600 million range after all most of the NHL arenas built during the late 90s early 00s have been in the $250-450 million range when adjusted for inflation and currency rate. I know those arena didn't surpass every existing NHL arena in every way, but they address the issues with the Saddledome (not old, you can hang stuff from the roof, bigger concession area, more luxury boxes).
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The NHL standard for Arenas has come way up. No point in building a 90s building, they are the next ones to get replaced once the dome goes.
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09-15-2017, 09:16 AM
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#408
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Lifetime Suspension
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Quote:
Originally Posted by crazy_eoj
If the 185 MM contribution from the City is not a loan, I don't see how that deal isn't taken.
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Even if it is a loan, the loan was always interest free. Its still a great deal.
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09-15-2017, 09:16 AM
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#409
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First Line Centre
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That deal is more than fair. The Flames position only gets more embarrassing as the week goes on.
__________________
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09-15-2017, 09:17 AM
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#410
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First Line Centre
Join Date: Feb 2013
Location: BELTLINE
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It's a very high level overview but on the surface, yeah that looks like a fair deal. I think a lot of us can get behind the 1/3 1/3 1/3 deal.
I wish KK would come out now to say what exactly their problem was with the deal, but I'm not holding my breath.
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09-15-2017, 09:17 AM
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#411
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#1 Goaltender
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Quote:
Originally Posted by crazy_eoj
If the 185 MM contribution from the City is not a loan, I don't see how that deal isn't taken.
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Edit - sorry misunderstood... need coffee
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09-15-2017, 09:18 AM
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#412
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Franchise Player
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Nm
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09-15-2017, 09:19 AM
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#413
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#1 Goaltender
Join Date: Oct 2002
Location: Calgary - Transplanted Manitoban
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If i am understanding this correctly, the Owners were going to put in $200M of an $890M CalgaryNEXT project, which is 22% of that cost. If that is the case, and going by what Ken King said in his presser about the same RATIO, they are looking to put in $121M to this deal.
I also have heard that the Flames ownership considers the 33% Ticket tax part of what they are putting forward. Therefore they feel like they are paying 66%. ....Which is a total crock of.....ya, you get it.
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09-15-2017, 09:19 AM
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#414
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Crash and Bang Winger
Join Date: Jul 2005
Location: Aalborg, Denmark
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Quote:
Originally Posted by Backlunds_socks
Sounds like a bloody amazing deal to me, even if the Flames have to return the City's (our) money through a lease.
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We're living in a new era, leases are loans, and this contribution is actually $0.
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09-15-2017, 09:20 AM
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#415
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Some kinda newsbreaker!
Join Date: May 2004
Location: Learning Phaneufs skating style
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Quote:
Originally Posted by DiracSpike
It's a very high level overview but on the surface, yeah that looks like a fair deal. I think a lot of us can get behind the 1/3 1/3 1/3 deal.
I wish KK would come out now to say what exactly their problem was with the deal, but I'm not holding my breath.
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He has said it. From CSEC's perspective they feel they are paying 100% of the cost of the arena with the city's proposal. Whether that is justified or not, is up for debate.
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09-15-2017, 09:20 AM
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#416
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Franchise Player
Join Date: Dec 2005
Location: Moscow
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Quote:
Originally Posted by crazy_eoj
If the City is contributing only a loan to the Flames, and then they OWN the building, then how much are they paying for that ownership/right to charge rent? Being gifted an almost billion dollar structure....that's not ordinary.
As mentioned in many other posts it certainly isn't un-ordinary for the city to relax property tax requirements for new construction projects either. How much does the National Music Center pay for property tax....anyone?
Pretending either of these things are 'ordinary' in this situation doesn't make any sense.
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The National Music Centre is likely exempt from property tax as a non-profit organization pursuant to the Municipal Government Act. If the Flames want to explore incorporating as a non-profit in order to qualify for property tax exemption, I would encourage them to consult a lawyer.
__________________
"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
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09-15-2017, 09:21 AM
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#417
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Crash and Bang Winger
Join Date: Jul 2005
Location: Aalborg, Denmark
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Quote:
Originally Posted by InCoGnEtO
I also have heard that the Flames ownership considers the 33% Ticket tax part of what they are putting forward. Therefore they feel like they are paying 66%. ....Which is a total crock of.....ya, you get it.
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You can thank the losers up north for that brilliant idea.
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09-15-2017, 09:24 AM
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#418
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Franchise Player
Join Date: Dec 2005
Location: Moscow
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Quote:
Originally Posted by InCoGnEtO
If i am understanding this correctly, the Owners were going to put in $200M of an $890M CalgaryNEXT project, which is 22% of that cost. If that is the case, and going by what Ken King said in his presser about the same RATIO, they are looking to put in $121M to this deal.
I also have heard that the Flames ownership considers the 33% Ticket tax part of what they are putting forward. Therefore they feel like they are paying 66%. ....Which is a total crock of.....ya, you get it.
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I actually think that it is fair for the Flames to consider the ticket tax as more or less being out of their pocket. I just think that, even so, it is entirely fair that the Flames should pay at least two thirds of the cost of their development.
__________________
"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
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09-15-2017, 09:25 AM
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#419
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Franchise Player
Join Date: May 2002
Location: Virginia
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Is the ticket tax money that is paid up front by the city and then the tax is paid back to the city?
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09-15-2017, 09:25 AM
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#420
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Scoring Winger
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Quote:
Originally Posted by sureLoss
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I guess the only question I would have is what are the details that aren't represented in the City's Info Graphic? It's all fine and good, but is there any fine print? And this city contribution portion, what exactly is Meant by "non-property tax"?
If there are no more conditions or fine print, CSEC should take this deal. Anything more then this by the city will start to offend the sensibilities of the majority of tax payers.
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