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Originally Posted by Calgarian
This will get done and likely in the form the city wants. Apparently the sticking point is if the city recovers their investment or not. The word is that the cost will be $550 million split evenly 3 ways between CSEC, The City and a ticket tax, the city just wants some sort of return on their investment and CSEC wants all the revenue which would prevent that. This is totally just a tactic by CSEC (despite their assuraces today that it isn't) to influence the election to try and get people emotional about this and to elect a city council that will be more favourable to CSEC's terms.
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The Flames have said all along they want all of the revenue from the arena. Would the city not recoup their share from investments made by others to build up the adjacent area?
Of course the Flames are turning this into an election issue but so is Nenshi. I'd say Nenshi started it by unveiling his cultural district vision. One day he says a new arena is a vital component and the next that it's not absolutely necessary.
This is the first time I've seen a dollar figure for the project. Does $550 million include land costs or is it just the cost of the building itself?
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