Regina's Multi-Purpose facility

[Neil]

Don't want to take this on a tangent, but during the campaign a recognizably named leader of the NDP told me with no equivocation they were against the stadium. He said they wouldn't go public with that during the campaign out of fear of being unfairly branded as anti-Riders and anti-Saskatchewan.

Now the leader McCall is quoted as saying they aren't necessarily opposed.

So either they've changed their minds or something's not consistent.

[Neil]

Originally Posted by neoen

I'll stir up some trouble here. I am from Saskatoon, however, I'm not originally from there, so I have nothing against Regina.

If this stadium is funded (majority) by the gov't, we will be the biggest joke in Canada. If everyone wants the stadium, and wants gov't funding, its gonna have to be at the university.

The federal gov't has stated many times that it is not in the stadium building business, and the same fight occured in Winnipeg. In the Peg, the stadium was initially slated to be downtown, until the gov't said 'I dont think so'. They will however fund educational facilities / sports facilities, which is why their plans changes to move the stadium to the University.

Next, there seems to be a major misconception on how stadiums are paid for. Arenas/stadiums are never majority paid by the gov't. How much are the riders / shareholders willing to put up to pay for this?

Lastly, stadium building cost estimates are almost never dead on, especially domed/retrac. roofs.


ie) Skydome

• initial estimate $150 million
• actual cost $570 million
• 1990 - stadium is in so much debt that it would need to be booked 600 days a year to break even
• 3 levels of gov't contributes $30 million combined
• Sold many times as it went through bankruptcy
• Rogers buys it for $25 million (4% inital cost)
• Ask any Toronto citizen and they'll tell you what they think of the concrete convertible!

ie) Olympic Stadium (Montreal)

• Initial estimate (1970) $134 million
• actual cost $264 million
• Cost after all repairs, and inflation almost 30 years down the road after initial estimate 1.6 billion
• Minimal large events held yearly in 2009 (1 CFL Playoff Game)

ie) BC Place

• cost $126 million
• new retractable roof cost (exp 2011-2012) $200 million
• BC Place is busy with over 200 event days per year and contributes over $40 million per year in economic benefits to the Province of British Columbia, but it operates at a loss of more than $4 million a year ($10 million in earning and more than $14 million in expenses), not including $2.3 million for amortization

I'd like to know how a dome works in Sask. Don't get me wrong, a new stadium is great, and in Saskatoon im all for the completion of the CUC at the minimal cost. However, does the cost of this project really make sense? How much will tickets go up? Will it ever be paid for?

You are right about the funding. There doesn't seem to be any economic basis for it. The only way it will be funded is by using crown revenues and gambling funds.

The mayor came out today and pledged it will not go over $350 million. To me that's way too much to be spending but it does set in stone what the maximum tolerable price will be. If they stay under or go over budget, that will determine his reputation in the history books.

But you are probably wrong about it being seen as a joke by the rest of Canada. Most won't know about the nuance with the funding so they will see it as being funded by successful businesses.

It will be curious to see how much federal money is granted. The province has elected a bunch of MP's to the governing side but that hasn't translated into money so far. Given the economy across the nation I wonder if there will any funds given?

[Neil]

From the digital photo render it looks like the brick is being used sparingly, as trim. That's probably wise as a cost saving measure. It evokes the idea of the older neighborhood but might avoid the cost of an all brick facade.

[isaidso]

Had already been posted.

[Nathan]

Originally Posted by isaidso

Here's more of the proposal:
...

Those are the same ones that have been discussed over the last couple pages, and someone posted it a couple pages back, but the government released some larger images if you want to check them out.

http://www.gov.sk.ca/adx/aspx/adxGet...=992&PN=Shared

Just follow that link. They're a little easier to read than the ones that were from the Leader Post article.

[isaidso]

Originally Posted by Nathan

Those are the same ones that have been discussed over the last couple pages, and someone posted it a couple pages back, but the government released some larger images if you want to check them out.

http://www.gov.sk.ca/adx/aspx/adxGet...=992&PN=Shared

Just follow that link. They're a little easier to read than the ones that were from the Leader Post article.

Oops, I only went back a page and only saw one of them posted. I'll delete it! Thanks for the link, I was trying to find the bigger images, but couldn't find them.

[Stormer]

Hamilton's $300 million proposal:


This is to be for the Pan Am Games and then converted for football

[Dalreg]

Originally Posted by Stormer

Hamilton's $300 million proposal:


This is to be for the Pan Am Games and then converted for football

Not even close to $300 million! Where did that number come from?

[Stormer]

Originally Posted by Dalreg

Not even close to $300 million! Where did that number come from?

I readily admit I did not look into to this too deeply. I was just going by this quote fro Rod Pedersen's Blog:


Hamilton Mayor Fred Eisenberger said he was "over the moon" and "we deserved to win.". He was right. He said many times, "You have to be in the game to win." Justifying the stadium's expense, Eisenberger said, "Hamilton may have to put out $60 million but we're getting about $300 million in infrastructure."

I read this as the City's share of the stadium cost was $60 million of a $300 million total. I guess he was talking abut related infastructure?

[Riderfan4life]

Like I said before, this thing will be going ahead as planned.


Downtown Hotels Pitch in $10M For New Domed Stadium

--------------------------------------------------------------------------------

http://www.leaderpost.com/Saskatchew...503/story.html


REGINA — Hotel owners are putting their money where their mouths are when it comes to supporting the proposed $350-million domed stadium and multi-purpose facility in downtown Regina.

“Through our destination marketing fund, the Regina Hotel Association is pleased to announce the commitment of $10 million over 15 years to the construction of the new, enclosed stadium and multi-purpose facility here in the city of Regina,’’ said Tracy Fahlman, CEO of the Regina Hotel Association.

“Our members truly believe this type of building will open Regina to new tourism business opportunities,’’ Fahlman told a news conference Wednesday.

”We believe that a larger facility… would competitively position our city and our province as a more desirable destination for leisure and business travelers and, most important, to those who host a range of sporting, arts and culture, convention and entertainment events all year round.’’

Fahlman said the destination marketing fee, which was implemented in 2006 as a percentage of the room rate, has generated $3.5 million to market the city as a leisure, convention and event destination. The fee raises about $1 million to $1.5 million annually, she said.

Mayor Pat Fiacco, a strong supporter of the proposed facility, said the private sector needs to show financial support for the facility, as well as its moral support.

“For this project to be a success, it must be supported by the private sector and not just by the three levels of government,’’ Fiacco said.

Rob Pletch, chair of the board of directors of the Saskatchewan Roughriders, also welcomed the association’s financial commitment, adding that the football team would be one of the main tenants of the new facility.

“We need a new home for our football club,” Pletch said. “We hope it will be a domed stadium.”

Pletch added that several other CFL teams will soon be playing in new or refurbished stadiums, including Hamilton, Montreal, Winnipeg and B.C. “The CFL has become very much more competitive when it comes to facilities than it was a number of years ago… Why not us?”

[Migs]

Originally Posted by Riderfan4life

Like I said before, this thing will be going ahead as planned.


Downtown Hotels Pitch in $10M For New Domed Stadium

--------------------------------------------------------------------------------

http://www.leaderpost.com/Saskatchew...503/story.html


REGINA — Hotel owners are putting their money where their mouths are when it comes to supporting the proposed $350-million domed stadium and multi-purpose facility in downtown Regina.

“Through our destination marketing fund, the Regina Hotel Association is pleased to announce the commitment of $10 million over 15 years to the construction of the new, enclosed stadium and multi-purpose facility here in the city of Regina,’’ said Tracy Fahlman, CEO of the Regina Hotel Association.

“Our members truly believe this type of building will open Regina to new tourism business opportunities,’’ Fahlman told a news conference Wednesday.

”We believe that a larger facility… would competitively position our city and our province as a more desirable destination for leisure and business travelers and, most important, to those who host a range of sporting, arts and culture, convention and entertainment events all year round.’’

Fahlman said the destination marketing fee, which was implemented in 2006 as a percentage of the room rate, has generated $3.5 million to market the city as a leisure, convention and event destination. The fee raises about $1 million to $1.5 million annually, she said.

Mayor Pat Fiacco, a strong supporter of the proposed facility, said the private sector needs to show financial support for the facility, as well as its moral support.

“For this project to be a success, it must be supported by the private sector and not just by the three levels of government,’’ Fiacco said.

Rob Pletch, chair of the board of directors of the Saskatchewan Roughriders, also welcomed the association’s financial commitment, adding that the football team would be one of the main tenants of the new facility.

“We need a new home for our football club,” Pletch said. “We hope it will be a domed stadium.”

Pletch added that several other CFL teams will soon be playing in new or refurbished stadiums, including Hamilton, Montreal, Winnipeg and B.C. “The CFL has become very much more competitive when it comes to facilities than it was a number of years ago… Why not us?”

That didn't take long. Who was it that said their would be no private money involved?

[1ajs]

but what percentage will it be in the big question... just cause the hotels offer up 10 does not mean it will happen its going to take alot of partners to get it going but best of luck to the queen city

[yeeg]

10 million over 15 years isnt that much...If you think it is, you can put me down for $10 million over 100,000 years. Plus, that money isnt really "private money" as its more of a tax...

[djforsberg]

Originally Posted by yeeg

10 million over 15 years isnt that much...If you think it is, you can put me down for $10 million over 100,000 years.

Lol, you are ridiculous. Do you know how numbers work? $10M/100,000yrs = $100/yr. $10M/15yrs = $666,667/yr. There is a slight difference. Unless your point went right over my head...

[yeeg]

Originally Posted by djforsberg

Lol, you are ridiculous. Do you know how numbers work? $10M/100,000yrs = $100/yr. $10M/15yrs = $666,667/yr. There is a slight difference.

I realize that but hotel vs individual is also different...My point is 666,667 per year still isnt that much in the grand scheme of things. We need todays dollars and 10 million over 15 years is closer to 7-8 million inflation adjusted.

One catch with my 10 million donation, most of the money I give will be on the back end which gives me the equivalent a heck of a lot less than 10 million in todays dollars...

[djforsberg]

Originally Posted by yeeg

I realize that but hotel vs individual is also different...My point is 666,667 per year still isnt that much in the grand scheme of things. We need todays dollars and 10 million over 15 years is closer to 7-8 million inflation adjusted.

One catch with my 10 million donation, most of the money I give will be on the back end which gives me the equivalent a heck of a lot less than 10 million in todays dollars...

Clearly the details will determine how significant this contribution is, but it isn't at all insignificant. Its a start and will hopefully get the ball rolling for other private contributions.

[yeeg]

True, it has to start somewhere...I know there is a sh*tload of money in Regina but people are just too frugal to part with it...Perhaps its the farming way of life...

[Migs]

Originally Posted by yeeg

10 million over 15 years isnt that much...If you think it is, you can put me down for $10 million over 100,000 years. Plus, that money isnt really "private money" as its more of a tax...

Yes it is private money, it belongs the Hotel Association. Pretty much every city has fee's like these and the hotels can do with it as they please. To say its not private money and that its a 'tax' is like saying the money that Mosaic used to purchase the naming rights to the current stadium, isn't real money because its actually the shareholders money.

And as far as the 10mil over 15 years, well pretty much all investments will be made over a period of time, that is pretty much the norm on things like this. The big picture is the 10mil still goes towards the approx $350mil pricetag. This is a great first step and from what I hear its only the first of many announcements between now and the end of January.

[neoen]

another dome in the news today...

Pontiac Silverdome in Detroit gets sold for 600k, including the land! ouch. Maybe we should have bought that.

[Neil]

Originally Posted by djforsberg

Lol, you are ridiculous. Do you know how numbers work? $10M/100,000yrs = $100/yr. $10M/15yrs = $666,667/yr. There is a slight difference. Unless your point went right over my head...

Actually it sounds like he *does* understand how numbers work... better than some actually.

This probably isn't the place for Economics class, but with money, time is everything. $10 million in 15 years is worth less than a quarter of $10 million today.

Are there any strings attached? Do they want $80 million worth of naming rights and ad placements and tax breaks in exchange for this?

And there's about 350 million miles between a 'commitment' and writing of a cheque.

By the way, the 'destination marketing fee' is just a misleading name for what other cities call 'room tax'.

It does however speak to business owners willing to forego at least a small slice of their riches in the belief that relocating the stadium and covering it will fill their rooms more.