Répartition détaillée de l’accord Arena par l’ancien conseiller municipal / u / JeromyYYC

8 Comments

1. TL10 1 an ago

   I know Jeromy was a pretty divisive City Councilor back in the day (was not a fan myself) but he has been pretty open about his experience and pensive about how he could have handled his term better, so I do think his comments on this matter do have merit.

   [Original thread including his own comments on the matter.](https://www.reddit.com/r/Calgary/comments/132a1vm/csec_will_contribute_33_of_upfront_costs_for_100/)

2. One-Hall 1 an ago

   Isn’t the revenue part misleading?
   Sure on flames games CSEC takes all the profit but I read the ownership of the event centre is the cities so doesn’t that mean anything not CSEC related such as concerts, that the revenue goes to the city?

3. SomeJerkOddball 1 an ago

   I’d also add that we should be calling this the Rivers District Deal, because none of the provincial funding is destined for the arena complex apart from the community rink.

4. Gattaca_D 1 an ago

   I wish I got a deal like this on my house where not only does the government fork over 70% but also I can defer my loan payments for years at a lower rate.

5. Umbrae-Ex-Machina 1 an ago

   This is so ridiculous. Why should we expect the entire province of taxpayers to bankroll our team’s owners?? And then not get ANY of the revenue!

6. CJ_Boiss 1 an ago

   What I’m seeing here is an arena paid for entirely with public money, with the private billionaires taking out a loan from the city that is *massively* below market rate, with 100% of that revenue going to the private billionaires and none of it going to the city that is actually paying for and building the entire damn place.

   That about sums it?

   There must be something missing, right? Because how in the sweet fuck did anyone on city council agree to this?

7. Scissors4215 1 an ago

   It’s amazing how many people seem to have done a 180 on Farkas. I’m sorry but a leopard doesn’t change its spots.

   Farkas doesn’t even have the details of the deal to make a “detailed evaluation of the deal”.

   I’m not defending the deal, I don’t think it’s a good one. However Farkas is against EVERYTHING so it’s not surprising he’s against this

8. Straight-Plate-5256 1 an ago

   I don’t believe this is *entirely* true, the city will retain ownership of the arena so I’d imagine they’ll collect revenue from CSEC in some capacity.

   Edit: obviously murray stands to make off like a bandit in this deal but the chances of CSEC getting literally 100% of the revenue are zero.