No tax dollars for arena
Wednesday, Oct 04, 2017 09:43 am
Citizens have spent hundreds of millions of dollars building/renovating facilities that have taken the Flames owners from mere millionaires to billionaire. Each year the group puts $1,000,000s from thousands of Calgarians in their pockets as “economic benefits” to Calgary.
Rogers Place: Oilers billionaire Owner Katz paid $20,000,000 while Edmonton taxpayers foolishly paid $464,000,000. Katz’s unbelievable dream, Edmonton taxpayers hosed. Hidden in the Flames financing proposal is the fact that the source of “their taxpayer’s money” is actually City of Calgary borrowing from the Province of Alberta – the “Broke Province of Alberta.” All costs of land, construction, the infrastructure and corporate taxes should be the Flames.
Calgary should learn from terrible arena deals in Glendale (Arizona) and Edmonton – financings, subsidies, grants and tax inducements/incentives do not make anything economic, they only improve the profits for a few.
Great when Flames owners pay for facility with their own money,