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05-15-2013, 02:45 AM
Tarus's Avatar
Join Date: Jun 2006
Location: Edmonton
Country: Canada
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Originally Posted by Billybaroo View Post
I know how the Northlands ticket tax arose. It actually initially started off with Katz, again after the original framework was agreed to, demanding a non compete from Northlands (that was about #20 of Katz's bait & switch's/reneging). If the City gives it all back its irrelevent to Northlands , but not to Katz.So I doubt that happens. So those pom pom wavers of Katz attribute the ticket tax on the new arena as a Katz contribution. Makes sense to me the ticket tax on Northlands is a contribution by Northlands to the new arena.
The terms of the framework will form the basis for the City and the Katz Group to negotiate a formal Master Agreement. Both parties can now also begin to pursue additional funding sources.

This framework does not constitute a final and binding agreement. Both parties will now begin to work on the Master Agreement to advance the project further, including by working to secure the remaining funds required.

The whole point of the framework was to allow the Katz group and the city to get down to the business of settling all the details of the arena - including things like ticket tax, who pays for the arena, who builds the arena, the exact cost of the arena, design, funding, etc.

The deal itself was never set in stone, and he didn't "renege" on anything despite how contentious things got at times.

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