News "As the Stomach Turns:"The Ongoing Saga for Obtaining a New HockeyArena/football Complex

Discussion in 'Hockey Talk' started by Seeker1, Sep 15, 2017.

  1. Seeker1

    Seeker1 Member

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    "To be, or not to be--that is the question:
    Whether 'tis nobler in the mind to suffer
    The slings and arrows of outrageous fortune
    Or to take arms against a sea of troubles
    And by opposing end them. To die, to sleep--
    No more--and by a sleep to say we end
    The heartache, and the thousand natural shocks."
    -Hamlet's Soliloquy

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    Flames CEO: City's $185M offer for new arena is misleading

    The city’s latest offer to pump $130 million in cash and $55 million in other costs into building a new Flames arena in Victoria Park in extremely generous, Mayor Naheed Nenshi said Friday.

    But Flames president Ken King in a hastily-called press conference Friday morning said the city’s offer is misleading because whatever the city commits would eventually be paid back by the club.


    That city offer, which would leave ownership of a $555 million arena with the Flames who would keep all revenues generated from it, was rejected by the owners of the NHL club.

    In what the city is calling a three-way cost split, the club would pay another $185 million in cash while the remaining $185 million would come from a facility ticket surcharge.

    Nenshi said the city’s position is so attractive, “some will say the city is giving away too much.”

    Along with the $130 million in cash, to be recouped in future property taxes and possibly other means, the city agreed to pay the $25 million cost in demolishing the Saddledome and the $30 million value of land north of the existing arena.

    Where the $130 million in city cash will come from is still “to be determined…it could come from public savings from other projects or in separate debt — we’d always have to specify how we’d pay that back,” said Nenshi.

    He even laid out the notion the city could be an equity partner in the Flames operation.

    “The city somehow needs to share in the upside if we want to share in the costs,” said Nenshi, adding all but two of city council members support the current city deal.

    That was assailed by King, who insisted the city’s $130 million cash infusion would be paid back by the Flames in taxes, an equity share or some other mechanism.

    And he said a ticket surcharge comes from the Flames operation, thus is revenue from the team.

    “We’re not only paying for everything but more, given the incremental taxes, so it’s all Flames revenue,” said King.

    “If we thought that model would work, we’d save everyone’s time and get on with life.”

    The club will unveil details of its offer sometime next week, said King, who added he doesn’t know what it’ll take to get both sides talking again.

    “Their message is loud and clear: they’re not interested in our deal and we’re not interested in theirs’,” he said.

    Talks between the two sides ended at the end of July.

    http://calgaryherald.com/news/local-news/inside-the-citys-185m-offer-for-a-new-flames-arena]Link

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    Nenshi rivals question plans for Victoria Park arena/entertainment district


    ayor Naheed Nenshi’s vision for a new arena and entertainment district in Victoria Park is being criticized by two of his mayoral rivals, who are raising questions about its substance and its timing.

    On Monday, Nenshi, who’s seeking a third term next month, released what he dubbed a “bold path forward” in creating an entertainment and cultural hub for the blighted urban lands around Stampede Park, suggesting the city pursue funding partnerships for the area, including a new arena as its centrepiece.

    In addition to a new arena that would be paid for with a “win-win funding model” between the city and the Calgary Sports and Entertainment Corp., owners of the NHL’s Flames, the mayor has also pitched a number of other improvements.

    Nenshi’s vision calls for an expanded convention facility at the existing BMO Centre, an expanded performing arts centre, the refurbishment of Olympic Plaza, a planned innovation centre, and public realm improvements alongside the redevelopment of Victoria Park.
    But mayoral candidate Bill Smith said he’s troubled that such a grand vision includes no estimated price tag, only a suggestion that the city could work with the Flames’ owners, other levels of government, and several other partners, including the private sector, to cover any costs.

    “It’s indicative of the way this leadership has operated,” said Smith. “They don’t care about dollars. They don’t care about taxpayer money. They’re just going to throw stuff out and hope that they’re going to get re-elected, and I don’t think Calgarians are going for that.

    “I’ve heard at the doors, time after time, it’s time for a change, and I believe quite strongly that the current mayor has heard that message as well, and so now he’s grasping at straws.”
    Calgary Coun. Andre Chabot, who is also challenging Nenshi, said the incumbent’s vision is one council has been planning for some time.

    “It’s interesting somebody’s promoting a new entertainment district — council’s been talking about doing this for a long time,” he said.

    “It’s kind of like somebody announcing they’re going to give us funding, and they come back two months later and announce they’re going to give us funding. This is a decision that council’s already decided we’re going to move forward with is the new entertainment district.”

    Nenshi, who said the city continues to negotiate with the Flames’ owners on the proposed arena, suggested there are existing funding estimates for the scheme, but “this will come out over time.”

    “The real issue is that it’s going to require a lot of partnership, a lot of partnership from other orders of government, a lot of partnership from the private sector, not just the owners of the Flames, but other developers to talk about how this whole package can come together,” he said.

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    #1 Seeker1, Sep 15, 2017
    Last edited: Sep 15, 2017
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