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09-19-2012, 03:27 PM
  #58
Egil
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Quote:
Originally Posted by smackdaddy View Post
This is not just an arena. I don't know how many times I have to make that clear. If it's just the arena we were talking about here it would have been covered by the $170M that Katz has invested in ($70M in land acquisition and the committed $100M for the arena). Where the problem lies is in the external necessities that are imperative to ensure the success of a revitalization including the office towers, condos, etc. These additions benefit Edmonton and its citizens directly and that's why the city has been asked to jump in with construction costs (Which will be paid for by the levy).
Office towers and Condos are constructed routinely without government subsidies. Why are these different?

And the threat to move is still completely non-credible, so the city should simply ignore Mr. Katz until he stops trying to blackmail the city into giving him money and comes up with a more reasonable proposal for city funds.

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