: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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05-14-2013, 09:52 AM
Join Date: Jul 2007
Location: Edmonton, AB
In my opinion, the Oilers are the smaller part of Katz's investment concerns, it's more about the real estate development around the arena, than the team inside of it. Selling the team means he is accepting a lot less profit than opportunity presenting itself.
And so, I think this is where they need to be looking for the extra capital. Since, I don't like the concept of certain private industry gaining competitive advantage over other private industry through actions of a government, those who look to benefit in the long term should do so with additional offsetting payments. Don't be taxing those people who have started building, before an arena is off the ground, charge those who are waiting until that competitive advantage is in place. Which is a group larger than Daryl Katz.
New hotel, anchored by arena, is built, it is required to charge a $5 a night surcharge (not charged at the Delta or Sutton Place...) on each room for ten years. New business tower, anchored by the arena, is built, each square foot of leased space has a surcharge for the first term. I'm sitting in a shiny new seat, in a building that I think I can escape from in the case of an emergency, I pay $N per ticket for N years...
Last edited by Section337: 05-14-2013 at
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