Quote:
Originally Posted by mjpaul
It would cost an estimated 350 million dollars
what was that?
It would cost an estimated 350 million dollars
I guess if Moose Jaw (34,000) can build a $60 million stadium, Regina (203,000) can realistically consider the cost.
Regina has 6 X the Moose Jaw population ...6 X 60 Milllion = 360 million.
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Circumstances
Using that logic, Calgary can consider the cost of $1,740,000,000 for a new stadium...a stadium for a city of 1,079,310 people.
If you want to use Moose Jaw as an example of how much is okay to spend on multi-plex facilities,
the cost of their facility is $34,000,000. I am not sure where you read $60,000,000.
Using your previous one city fits all method (Moose Jaw is the standard to which all cities are measured), Regina can afford to spend $204 M on a stadium.
As well, Moose Jaw intends to fund raise $6.5 M over time. That's 19% of the total $34 million.
Again, using Moose Jaw as the standard, Regina could raise 19% of $205 M, that's $38,950,000. $350 M for a domed stadium would require fund raising of $66,500,000.
Rising Debt
Saskatoon's
2008 Financial Report lists our city's debt at $89,144,000 up from $47,456,000 (2007). Debt servicing costs (Interest rates range from 1.75 percent to 10.5 percent) rose from $6,728,000 (2007), to $10,367,000 (2008). I didn't bother checking why it went up (land development is no doubt in there).
The City of Regina website has the 2006 Financial Report available, nothing for 2007 or 2008. But, total debt is $43,290,000 (2007) according to the
Moose Jaw Multiplex - Get the Facts.
Have proponents seriously considered all costs and perceived benefits?
I am all for big dollar projects when the potential return is great, but if the economics don't make sense, fuck it.
Build some kind of stadium, but remember there are benefits to lower taxes and user fees.
Source
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I am confused.
This
press release says the federal and provincial governments are partnering to deliver $23.5 million for the Moose Jaw Multiplex, but, various media sources cite $34 M for the project.
Is the City of Moose Jaw only contributing $10.5 million? If so, why does
Moose Jaw Multiplex - Get the Facts cite borrowing for the multi-plex at $38,300,000 (less 6.5 M for pledges)?
Holy misinformation!