New details on Calgary arena deal emerge as final agreement expected to arrive later this summer yyc yyccc
Most upfront costs shouldered by city
The arena itself costs $800 million, while additional construction on that block — a parkade, a community ice rink, and indoor and outside plazas — drive costs to $924.4 million. Coun. Sonya Sharp said that means the city won’t take on debt or raise taxes to fund the project, and said CSEC’s adjusted payments to the city over the course of the deal are calculated at nearly $750 million.Article content
The CSEC lease is also slated to stipulate that the Flames will remain in Calgary during the 35-year term.City won’t get ticket surcharge, naming rights revenue
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