Calgary Flames New Arena Update

[msommers]

CoC are clearly master negotiators

[killramos]

I love the last quip, where it results in no increase to taxes, because building it was already baked into our already overinflated property tax rates

Where do people think the money that goes into that fund comes from? Santa?

[kertejud2]

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CoC are clearly master negotiators

The city (this being the administrators) was holding firm until that group of councilors basically intervened to force a deal.

Just ripped away whatever leverage they had, and now here we are.

[ExtraSlow]

I blame the unions.

[killramos]

Doing some quick maths on this "Investment", the rate of "return" on this project is a whopping 1.38%.

Good Job CoC.

[kertejud2]

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I blame the unions.

The NHLPA showing solidarity with their CUPE brothers. Typical.

[ExtraSlow]

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The NHLPA showing solidarity with their CUPE brothers. Typical.

I was thinking the nurses and teachers, but sure.

[speedog]

So does anyone if cost over runs are borne equally by both partners?

[Tik-Tok]

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Doing some quick maths on this "Investment", the rate of "return" on this project is a whopping 1.38%.

Good Job CoC.

That's assuming no cost overruns. Which totally won't happen.

[killramos]

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That's assuming no cost overruns. Which totally won't happen.

1.38% using their own assumptions yes.

How do you spell incompetence?

[ThePenIsMightier]

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Doing some quick maths on this "Investment", the rate of "return" on this project is a whopping 1.38%.

Good Job CoC.

That's near what the Northwest Redwater Upgrader is, isn't it? Doesn't payback within life of facility.

[Darell_n]

Can’t put a price on memories? As a community member of a Calgary suburb, I firmly support the CoC spending as much money as humanly possible on a new shiny entertainment venue.

[killramos]

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Can’t put a price on memories? As a community member of a Calgary suburb, I firmly support the CoC spending as much money as humanly possible on a new shiny entertainment venue.

My family in Cochrane laugh and laugh and laugh every time Calgaries latest night project gets announced.

[rage2]

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Yes.

Sprint Center
Centre Videotron
FirstOntario Centre
MTS Centre up until 2011
Rogers Place

All major sport sized arenas without an NHL team (or major tenant) that got a naming rights deal.

FirstOntario Centre's naming rights deal is $3.5M over 10 years, and that arena is 35 years old.

Quebecor is the operator of the Videotron Centre, but still had to pay the naming rights deal on top of that to Quebec City ($1M/year without an NHL team, $2M/year with one).

So it's simply a handout to the team they're disguising as a revenue source of the arena for the city.

Got me there haha.

[pheoxs]

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Doing some quick maths on this "Investment", the rate of "return" on this project is a whopping 1.38%.

Good Job CoC.

Tbh that's not bad. IF (big if of course) the cost overruns aren't crazy ... the fact that they basically get their money back minus inflation (give or take) is actually pretty decent. Compared to say something like the public library that was 245 million and brings in very little in return

[killramos]

Considering at the end of the day it’s a business deal with a for profit entity, no it’s not a good deal for the city.

I’d rather they reduce my property taxes and let me earn my own return on my money and pay for my share of the arena myself.

[asp integra]

I'm happy to announce I have secured the naming right for the first 10 years.

Alberta Boot Arena is gonna be awesome!

[ExtraSlow]

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I'm happy to announce I have secured the naming right for the first 10 years.

Alberta Boot Arena is gonna be awesome!

That's awesome even if you are joking.

[killramos]

They are going to regret blowing up the saddle dome when it’s right beside the boot arena

[Swank]

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So does anyone if cost over runs are borne equally by both partners?

When I heard this on the news they did indicate overruns would also be split down the middle.