The Lansdowne Redevelopment
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07-21-2011, 09:01 PM
G'night Sweet Prince
Join Date: Dec 2008
Originally Posted by
What does that even mean? The building of the stadium will go to tender.
.The Friends of Lansdowne are the quintessential " Not in My Back Yard group", and its funny in a way that anyone at all is buying the nonsense they're selling.
Council and the city have done their job on this one, I doubt any project has had the painstaking reviews that this one has.
The Conservancy is a joke, but then its not expected to be seriously considered but is a means to delay and derail the real project.
I look forward to the day there is football back and soccer a well as hockey at Lansdowne, and some life in this city.
It means they agreed to a deal that would see $120+ million of tax payer dollars being spent (mostly by taking on debt) without doing their due diligence on what they were signing and were later "surprised" with the news that the deal involved an exclusive clause where the city wouldn't be allowed to fund any other major projects of this kind. Again, we find out that the city didn't realize that there was a calculation mistake in how much of the tax payer's money they would get back as part of the deal by a total of $60 million, leaving a margin of only $13 million in terms of how much money the city will make.
While there's no doubt the main opponents who are fighting this are a classic case of NIMBYers, it doesn't mean that none of their objections are invalid. Every major projects like this will have its opponents who will use whatever means possible to stop it from happening (such as with Scotiabank Place). At least with SBP, it was entirely funded by private investments leaving the entirety of the risks at the hands of the people who stood to profit from it (and they nearly sank because of it). Now the city carries a large amount of risk related with the construction of the stadium, while having shown to be sloppy with the numbers already. And that doesn't take into account the fact that as reported in the independent auditing of the deal, there are many risks to the construction costs that are not included into the costing of the project, and suddenly that $13 million margin could very easily evaporate.
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