Originally Posted by Surrealplaces
Someone correct me if I'm wrong, but Calgary so far is all private money, and Edmonton's a mix of private and public right? I think the 100 million shortfall for Edmonton is the public portion from the city.
Summary of Financial Framework Terms
The Arena Building
The maximum cost of new arena is $450 million and the building will be owned by the City of Edmonton.
The $450 million includes:
Design, construction, soft costs, eligible pre-development expenses
Any oversight expenses
Associated development costs.
350 parking stalls
Site servicing costs
$450 million is comprised of:
Katz Group $100 million
Facility Improvement Fee $125 million
City of Edmonton
CRL $45 million
Other sources $80 million*
Other Orders of Gov’t $100 million
Maximum Price of Arena $450 million
*includes $25 million from new parking revenue, $35 million redirected from City support for Rexall Place and $20 million from other current arena area related expenditures that will be re-directed.