^WTF are you talking about?
226mil of public dollars which will recouped through a CRL.
That CRL was conservatively estimated through a total development value of around $700mil or so in 30yrs.
3yrs in, we are at 2.5billion in development.
yup, terrible invest...
Rogers Place is being built for $483.5 million, including underground parking.
The Katz Group is paying $132.5-million. $112.8-million of their contribution will be paid to the City as rent over 35 years, and cover the City’s principal and interest costs. The remaining $19.7-million will be paid as cash.
The City of Edmonton’s contribution of $226-million to the arena building includes funding through a Community Revitalization Levy, new parking revenues, and redirecting the current Rexall Place subsidy.
$125-million will be collected through a ticket surcharge
https://www.edmonton.ca/projects_pla...agreement.aspx