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Originally Posted by simster3
Wouldn't the city be on the hook for the majority of the upgrades to the area no what what developement goes in there? I understand that they will have better cost recovery with different developements, but they are still going to have to pay for the remediation, realignment of Bow Tr. and other infrastructure upgrades. I hope they decide to do the remediation regardless of what happens to the area. I just see this report as the city's counter proposal and a way to say to the Flames to step it up a notch.
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I don't think the city really has to re-align Bow Tr if the complex isn't going in. That is their option, and their preference from the area development plan is different from what the Next would require. Some elements, yes, they'd have to do anyway, but anything other than Next going in would generate property tax, so massive opportunity cost. The other piece that they needed to add in is the cost of financing the all elements that directly or indirectly come back to the city. As an example, the owners are saying $250M will come from a ticket surcharge, however, that money is required up front, so they want the city to provide the money without interest. City doesn't have billions sitting around, so they would have to finance that, and all the other costs. The cresote piece is smallish in the grand scheme.
If all this is about hockey, then the Saddledome is fine. If it is about being able to host events for bigger profits, then a new stadium/arena is required. The owners talk about it as if it is for hockey, but it is actually the latter.