Agreements to fund and build a new home for the Calgary Flames and revitalize the surrounding area have been signed and construction on the project is scheduled to begin this year, Alberta's transportation minister tells CTV News.
Devin Dreeshen says the utility work for the project will start in 2023 with the completion of the new event centre coming in late 2026 or early 2027.
While a Memorandum of Understanding between the province, city, Calgary Sports and Entertainment Corporation and the Calgary Stampede was agreed to months ago, the final agreements have now been signed and executed. The City of Calgary will front most of the cash for the project -- $537 million -- while CSEC will put up $40 million initially and pay an estimated $316 million through yearly lease payments.
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