Markham Arena II
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06-28-2012, 09:50 PM
Join Date: Nov 2009
Originally Posted by
If I lived in Markham I'd be furious about the city using public funds to finance the construction of a sports arena, and one that won't even be publicly owned and operated at that (as far as I can tell; few articles I look at actually mention who will own and operate the arena).
The arena will be 100% publicly owned and then leased to Roustan and Bratty's group. The lease payments, among other financing tools, will be used by the town to pay down the arena debt.
Rudy Bratty wants the city to borrow $162 million to finance the place, when he's perfectly capable of financing the whole damn thing himself as he and his group are richer than God, so why aren't the people and city of Markham telling him to do that? Why are they allowing him to loot and plunder their treasury just because he wants them to subsidize his business plans as much as possible? I wonder if they'll change their tune when (not if) the project encounters significant cost overruns.
All cost overruns will be covered by Roustan and Bratty, not the town.
It's also disheartening to see people once again swallowing the obvious lies that the project will not necessitate any net increase in taxes on working people and that it will benefit the area economically; both have been proven false so many times in so many cities over the years that they simply ought to know better. Perhaps people in Markham and elsewhere are simply too excited by the prospect of an NHL team to keep their thoughts focused on reality. Too bad for them it will never happen.
The Council has done a 'good' job keeping the issue behind closed doors as much as possible, which is regrettable. For a project like this, public consultation should have been a pivotal part of the process.
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