This kind of discussion really frustrates me and here is why:
Aside from the city providing ideas on land and providing permits, the city is not responsible for subsidizing private profits.
The city does not own the Flames, the city wouldn't receive any significant return on investment in the form of tv profits, ticket sales & any other private profits. Unless the City had majority ownership of the Flames and received the majority share of the profits, it should have no part in building a new arena.
If a pro sports team owner can't afford to maintain or build a new arena then maybe they shouldn't be the owner. Billionaires don't need subsidization, some individual billionaires have more money than Calgary's entire city budget, not to mention investment firms, private equity, hedge funds, banks and any other billion dollar company of which Alberta has plenty of due to oil.
In summary, unless the Flames owners are prepared to offer the City a significant portion of the profit they should not expect subsidization. Our city is broke as it stands and cannot provide us the basics without having to raise taxes yearly. Our city and our province is booming and we need all the city revenue possible to keep up.
Our city has many future billion dollar projects of which Provincial dollars will be needed. Considering oil is set to go to $60 as per the OPEC summit, don't expect much provincial money.
Last edited by joe498; Nov 25, 2014 at 5:14 PM.
|