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Originally Posted by BillDing
I agree that 2/3 wouldn’t be doable. Is there maybe an option where the overall project gets implemented in phases? Maybe the arena gets prioritized and the convention centre portion gets pushed by 5-10 years. Or the project gets scaled back like the central library did. If scaled back by 1/3, I could see it being doable, but that is a big cut to the budget. I personally would rather have a scaled back version of something than nothing at all though.
I wonder if the current arena could be sold off to be repurposed as a manufacturing facility or storage warehouse of some sort, rather than the City paying to have it demolished. The massive parking lots around could also be subdivided and sold as industrial land. Maybe this and naming rights knock off 10%ish of the remaining $330M? Still a lot more ground to cover….
I think that property taxes are the only way to cover the difference. I believe they ballparked renovations of Sasktel Centre at about $300M anyways with most coming from property taxes, so all things being equal, putting money to something new makes the most sense.
Property taxes from the existing arena land and new developments around the DEED, and the fact that revenue doesn’t need to be paid to OVG (if Sasktel & TCU team up to manage it) would also help a bit.
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Hmmm interesting some friends and I have been looking into a business and I think the building would actually be pretty usable for us and the massive parking lot would be great for storage and truck access is already pretty good there. Now just need to find a large amount of money to finance everything.
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