The Official Arena Thread Part 6
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12-13-2012, 02:12 PM
Join Date: Jul 2010
Originally Posted by
Btw, its hardly a windfall. The costts associated with the City services & infrastructure of this area , should it take off, are enormous. People talk as if its without cost for the City, both today & tomorrow. Its not. The costs are enormous.
To say nothing of the argument many make that its just transferring tax revenue from one area of the City to another.
And again, if the area takes off, common sense says that means Katz surrounding businesses will do very well as well. So why would the City further subsidize him? Why is that never factored in?
Always a one way street.
Some of it is in the citys calculations on what the CRL will produce or at least they compare those costs to what the city will gain from the increases in taxes. That is one of the reasons they backed out when the Katz group asked for more. Of course the city is very much in favor of revitalizing downtown because these infrastructure costs are mitigated by the fact that more people downtown means less new subdivsions which means less infrastructure payments in the longterm. There are already hospitals, police, fire anr emergency services downtown so they dont have to build more of those south of ellerslie or further out on the west end or farther north wherever the next big expansion would be.
The idea is a good one but it depends on the implementation. There has to be restrictions based on success of the CRL and on team need, which means regular audits of the teams books by a third party auditor.
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