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Originally Posted by Bdog
That's my point. If the City can leverage $1 B from a $20 M contribution, that would be an amazing feat, and most impressive (considering RRI is their initiative).
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I am just reading between the lines but I feel Fiacoo is not makign any sense on this. The province was approached for the 230 million for .. lets be real here ... the stadium.. with the debt level increase you can fish 50-75m to top off that. That would sound reasonable to me, with private money totaling 25-30m. That would sound reasonable and mirrors other projects done through out North America.
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"They're asking for $230 million as part of a $348 million proposal that involves a stadium, that involves the revitalization of the Mosaic (Stadium) current site and the CP yard site as well," Cheveldayoff said.
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750m tho?... from where? The Stadium would make little money so why would't they just team up for the 750m and then use that to build it? If the private sector has no desire to build the Stadium and this package is in a larger context why wouldn't you use part of the supposed 750m? And if that much money is on the line for the private sector why won't they come out of the shadows? Where is the lobbying of the public to support the plan? 750m isn't small change, newspaper ads would be peanuts in comparison.
The money would be in development - either of the lands surrounding the stadium and the old mosaic site, or possibly other projects in the city of a transfer subsidy is given.
In Markham the lobbying is already being done by the private players involved in their Arena proposal to sway the public and NHL. Comparing our Stadium saga to Markham. They have land, and, partners with names ready all before Council even voted anything in. We still have no idea whom these mythical partners are and still are given unrealistic numbers to play with here. The public would be more warm to this if they we're more upfront and open.