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05-15-2013, 03:08 PM
  #121
fysloc
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Join Date: Dec 2011
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Quote:
Originally Posted by Beerfish View Post
This would be a totally outrageous tactic that would be 100% unacceptable.
Just from memory, but it was one of the awkward things that was brought up in council then paula simons did a break down on the journal of how that would work.

Quote:
The updated deal also gives the Edmonton Arena Corporation a guaranteed tax agreement. Under the old framework, the Katz Group had to pay all property taxes on the new arena. Now, EAC will pay $250,000 a year in city property taxes for the next 35 years. Even if property values around the arena rise, or inflation soars, the tax bill will never, ever rise.
Found here: http://www.edmontonjournal.com/news/...800/story.html

Might have been removed though, I just remember at one time it was mentioned any other businesses who pay over the 250k limit, is used to offset taxes for those group, probably prior to the master agreement being finalized.

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