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04-27-2012, 07:19 AM
  #40
knorthern knight
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Join Date: Mar 2011
Location: GTA
Country: Canada
Posts: 3,202
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Quote:
Originally Posted by theaub View Post
Public: We don't want our tax dollars being spent on an arena!
Mayor/Council: As you can see in the presentation, the worst case scenario is a $160 (approx 3%) increase in property taxes, and that is with absolutely zero contributions to the $162.5M
Public: We don't want our tax dollars spent wah!
There are lies, damn lies, and megaproject cost estimates. Rogers Centre, originally called "SkyDome", was promised for $150 million. The final cost was over half a billion ($570 million). After a couple of financial collapses, it was bought by Rogers Communications for $25 million in 2004. In the 15 years since its opening, it had depreciated 96%. Welcome to SkyDome II.

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