Edmonton rejects Oiler [Arena] bid for more taxpayer dollars
View Single Post
09-19-2012, 07:11 PM
Join Date: Jul 2010
Originally Posted by
Nope. The proposed $450M includes the arena district, as the $100M from Katz is earmarked in both the building itself and the arena district.
Sorry but you are very much wrong. There was a whole round of these talks where first he said he'd put money into the arena but he then said it was only for the district and into the real estate developments going around and he wouldnt pay anything into the arena. When he was called on the tricky wordplay he was using to try and seem like he was promising one thing but in reality only something less he agreed to put $100 million into each.
He's investing money in the real estate surrounding the building, good on him but that's a fully commercial venture where he should make money and if not then it was a bad risk and he shouldnt have gotten into it. He has also committed to paying $5.5 million for 35 years as his investment in the arena as his $100 million investment into the arena.
The idea for the arena district is very much like what was built in LA and no it wont be happening all at the same time. The arena will go up first followed by whatever developments come.
View Public Profile
Find More Posts by Halibut