![]() The Flames are on the hook for $356 million for the deal, with much of that coming yearly over the next 35 years. The event centre will cost an estimated $800 million and will be owned by the city. Sharp said aside from money already set aside from the previous failed project, the city will pay the remaining costs out of the fiscal stability reserve, meaning homeowners will not see their taxes increase because of this deal. It is covering 44 per cent of the new deal. The city’s share is $537.5 million, representing nearly the entire cost of the deal struck in 2019. The Scotiabank Saddledome will be demolished. Article contentĪnd where that previous deal was built around a 50-50 cost split between CSEC and the city, the new agreement sees the bulk of costs covered by the municipal and provincial governments. This advertisement has not loaded yet, but your article continues below. The $1.22-billion price tag doubles the cost of the previous deal, which initially rang in at $550 million before cost escalations pushed that bill to $634 million. There are no preliminary designs or timelines for construction at the early stage of the deal, Mayor Jyoti Gondek said.Īs costs increase, deal to be split three ways The completed district will attract new people, more events and greater investment.” This is a district, and one that will serve every member of our community. “It’s not a single venue or a single building. Sonya Sharp, who chaired the city’s committee tasked with reaching a new deal. It’s foundational infrastructure,” said Coun. “A new event centre in Calgary is more than just a building. The surrounding area will be redeveloped with a “suite of public amenities and public infrastructure,” officials said. is where the new arena will be built, alongside a smaller community rink for amateur games and Flames practices. That site - 14th Avenue and 5th Street S.E. ![]() The next issue of Calgary Herald Headline News will soon be in your inbox. If you don't see it, please check your junk folder. Manage Print Subscription / Tax ReceiptĪ welcome email is on its way.
0 Comments
Leave a Reply. |