Calgary city council approves arena deal (UPD: new deal upcoming?)

[2023FriendshipTour]

So exciting!

 

[Marc the Habs Fan]

 

[BKIslandersFan]

What are the odds City Council does not approve the plan? And if they do, what are the prospects of possible lawsuits to stop it?

 

[Mightygoose]

The fact that the deal is made public, I think the odds are very high it gets approved. I think the yes votes are already in the bag.

If approved, I wouldn't be surprised if there are legal challenges that will likely won't go anywhere.

50/50 seems fair on the surface but would like to see how the city's share breaks down and who looks after overruns. I'm sure that will come out in the coming days.

 

[Bookie21]

Compared to the sham that was the Edmonton deal, where the city of Edmonton got bent over the barrel, this is a dream scenario for Calgary tax payers

 

[WaW]

Good deal for the Flames and the City. Just glad the team will be staying in Calgary. Sorry Houston, look elsewhere!

 

[RobBrown4PM]

I still do not understand why the Flames ownership couldn't have paid for this themselves, and don't say it's impossible, cause it's not. These guys are not only rolling in money, but can line up cash where needed in investors. I voted for Nenshi last election because he was essentially against the arena, if this goes through now I'll be spending my vote on someone else.

Let the billionaires pay for their toys.

 

[McDLT]

Looks like the city will own the arena, but the flames will pay for (most of) it. Sort of a logical middle ground between where both sides were 2 years ago.

Lol wrong. dummy! The city got bent over.

 

[LadyStanley]

Done deal?

 

[viper0220]

I still do not understand why the Flames ownership couldn't have paid for this themselves, and don't say it's impossible, cause it's not. These guys are not only rolling in money, but can line up cash where needed in investors. I voted for Nenshi last election because he was essentially against the arena, if this goes through now I'll be spending my vote on someone else.

Let the billionaires pay for their toys.

There are very few arenas that are build by total private money, everybody knew that the city would pay half(what the city wanted.)

The case against billionaires not paying is that billionaires hire people, they give people jobs
(I don't agree with it but it is what it is.)

Nenshi is done after this term (the fat bastard will be going into federal government.) Anyone you vote for will do a deal like this.

This is not a bad deal for the city, the Flames ownership will make money out of this for sure but the city also gets something back.

 

[viper0220]

What are the odds City Council does not approve the plan? And if they do, what are the prospects of possible lawsuits to stop it?

There might be one no vote but everyone else will say yes. I don't think there will be lawsuit, some people might throw a hissy fit but I don't think lawsuits will happen.

 

[viper0220]

Done deal?

Almost, the city council, has to vote for it. From the sounds of it there might be one no vote, so it will likely pass.

 

[gstommylee]

Almost, the city council, has to vote for it. From the sounds of it there might be one no vote, so it will likely pass.

Its rare for arena deals to have not a single note vote. There's always one that will vote no for what ever reason.

 

[McDLT]

There are very few arenas that are build by total private money, everybody knew that the city would pay half(what the city wanted.)

The case against billionaires not paying is that billionaires hire people, they give people jobs
(I don't agree with it but it is what it is.)

Nenshi is done after this term (the fat bastard will be going into federal government.) Anyone you vote for will do a deal like this.

This is not a bad deal for the city, the Flames ownership will make money out of this for sure but the city also gets something back.

The city wanted to pay half, but they wanted the Flames to own it so that they would have to pay property taxes. This agreement basically the city caving in to what the Flames wanted in prior negotiations.

 

[viper0220]

The city wanted to pay half, but they wanted the Flames to own it so that they would have to pay property taxes. This agreement basically the city caving in to what the Flames wanted in prior negotiations.

I think it is also good for the city as well because the city get some things.

 

[madhi19]

Well good for the Flames, not so good for Calgary. They get all the trouble of owning the arena, and likely none of the revenue. No wonder they are passing this in the middle of Summer while almost everybody who could raise a ruckus are not around to do so.

 

[webdev]

So whats being cut from the budget to pay for a grossly rich persons hobby?

Another so called "Hockey Town" that would lose its team if tax payers didnt pay for half an arena.

Bettman, Flames owners and the polititians should all be ashamed of themselves.

 

[Inkling]

There are very few arenas that are build by total private money, everybody knew that the city would pay half(what the city wanted.

Montreal, Ottawa, Toronto, Winnipeg (apart from a very small amount from what I understand) and Vancouver. Seems like most NHL buildings in Canada were built with private money. Only in the capitalist bastion of Alberta is that different, it seems!

 

[BigBadBruins7708]

Montreal, Ottawa, Toronto, Winnipeg (apart from a very small amount from what I understand) and Vancouver. Seems like most NHL buildings in Canada were built with private money. Only in the capitalist bastion of Alberta is that different, it seems!

TD Garden was built all with private loans as well (granted in 1994 and cost of $120 mill)

Every piece of Patriots Place, including Gillette Stadium, has been built 100% with private funds from Kraft and investors.

 

[Llama19]

There are very few arenas that are build by total private money, everybody knew that the city would pay half(what the city wanted.)

The case against billionaires not paying is that billionaires hire people, they give people jobs
(I don't agree with it but it is what it is.)

Nenshi is done after this term (the fat bastard will be going into federal government.) Anyone you vote for will do a deal like this.

This is not a bad deal for the city, the Flames ownership will make money out of this for sure but the city also gets something back.

 

[PsYcNeT]

Almost, the city council, has to vote for it. From the sounds of it there might be one no vote, so it will likely pass.

Based on the debates last night, it will likely be 9 for and 4 against, with the leader of the "No" group previously being a strong proponent for the 2016 majority-city funded proposal. Wonder what changed.

 

[Zenos]

Compared to the sham that was the Edmonton deal, where the city of Edmonton got bent over the barrel, this is a dream scenario for Calgary tax payers

For those actually interested: Edmonton Arena Agreement

 

[InfinityIggy]

For those actually interested: Edmonton Arena Agreement

So yes, bent over a barrel.

 

[McDLT]

I’ve slept on it and I’m still upset that this is the deal that the city is pursuing. Nenshi even says that he knows about all of the research (I can only assume he is referring to the vast amounts of research showing that public investment in arenas never pays off), and then says “I’m not trying to sell you magic beans”, but then roughly 1/3 of the predicted benefit is future property taxes from businesses that will *hopefully* open next to this new arena. I also think that they’ve chosen to ignore inflation since the cost of this project is immediate, but most of these benefits are expected to be realized over a 35 year span. I doubt the city sees more than $200m in todays dollars of return on their $275m investment. IMO This is a bad deal for the city.

Also, I’m bummed that the saddledome is being demolished (but they are keeping the parkade).

 

[Dazed and Confused]

So yes, bent over a barrel.

By my count, the CoE contributed less to their arena project than what Calgary's committed here. Unless 226M is suddenly more than 275. Plus they got a new (and needed) springboard for downtown development.

Could Edmonton gotten more out of Katz? Sure, by all accounts the Ice District in Edmonton has been a massive success for all sizes.