Thought I’d peruse the internets and condense what’s beeing said regarding the arena vote that passed last night. Read on for the details.
An 8-5 council vote passed last night based on a 17 part motion passed in April by the city regarding it’s desires for the project.
- Maximum construction cost: $450 million
- $100 million – Daryl Katz
- $125 million – ticket fee
- $125 million – taxes/city funds
- $100 million – provincial/federal funding (not established)
The two sides will jointly work on a design. Not sure if one has absolute power or if an agreement must be made.
The city will own the 18,500-seat building
Katz will operate it, receiving all the revenues and covering all the costs.
Any cash made from naming rights go to Katz.
35 year agreement.
16 Responses to “If you build it, cups will come….”
Leave a Reply
You must be logged in to post a comment.