Proposals for Performing Arts Centre

[GreatTallNorth2]

Originally Posted by Stevo26

Looks like the Free Press are at it again - jerking us all off with yet another proposal that will likely never get built. Even if the city's portion is limited to 25% of the total cost, that still works out to $41 million, in the same ballpark as what was spent to build the Budweiser Centre (and from which the city has yet to recoup its investment).

To make this work, and that's assuming all levels of government are fully on board, the condos that get built as part of the project will have to be fairly high-end (i.e expen$ive) to generate enough revenue to get the project off the ground. I say that because I just can't see how a 2,000 seat performing arts centre on its own is ever going to generate that kind of revenue, even if the cost is amortized over eons of time.

London, the city where no real economic growth happens, just proposals that promise it.

I'm sorry, but are you reading the same articles that I am? Do you understand what the proposal is? Probably not because it hasn't be totally outlined yet. I do know that it's more than just the city working on this and I know that the residential and hotel component will be owned and managed by private companies. And I guess if you want to have the city run as lean as possible with no Bud Gardens, no arts centre, no nothing...then why live in a major Canadian city? Why don't you move to a small town where you won't have these amenities? London completes on a national stage for jobs and it needs to have the same attractions as it's competitors. All Canadian cities London's size have a performance hall. I think it is a good deal for London to see this massive investment. And I am a taxpayer.

[Pimpmasterdac]

Their proposal is interesting, and does have potential if it all pans out. IMO though it seems like amateur hour with the leadership of these groups. They couldn't produce a report when council initially asked. Now they need a further, in-depth study to confirm the financials and they're not ponying up the money but going to council to beg for it. Makes them appear to be unprofessional, rushed and not having a real business case for it. Especially considering this council, at least Fontana, are determined to be seen as doing something and would gladly throw city money at a reasonable project.

[MrSlippery519]

Originally Posted by K85

Under what way did you figure out the city hasn't gotten its money back? Wouldn't the revenue from the tax base around the arena that has stayed in the city due to the arena, as well as the (being honest here) swarms of people we get for concerts, events, and sports spending their money not make up for direct return?

I would be curious about this as well, never really looked into it but I figured the city made their money back long ago with the revenue it generates.

The amount of money it has helped bring into downtown as well cannot really be quantified.

[MolsonExport]

Who the hell would vote for shoeless Joe Fraudtana in the upcoming election?
Where is Fraud Nation in London?

Christ, I thought nothing could top the wretched Witch Queen of Angmar. Boy was I wrong.