Quebec City mayor says Tories suicidal for shunning arena pr

This is CURRENT! Taken from THE LAST Edmonton Council/Katz Group Q&A session.
The reason that the previous article hasn't been 'updated', is that nothing has changed in the interim!

The info I have copied is within the link I posted!

3. Who will pay the operating costs? (Katz Group)
Answer: We have yet to develop a proposed operating model in our discussions with City
Administration. However, in principle, we would consider it appropriate that we would be
responsible for operating costs.
4. Who will pay the maintenance costs? (Katz Group)
Answer: This is to be settled. One must distinguish between routine maintenance and
capital maintenance requirements. We expect that both will be considered as our
discussions with City Administration advance.
5. Is the $100 m Katz dollars cash or land? (Katz Group)
Answer: There are a number of ways to deliver $100m in value, but we recognize that this
will have to be done in a fashion that is acceptable to the City.
6. Has a detailed analysis of the Katz lands been done (architects, planners,
engineers, transportation experts, parking consultants, etc), to determine
compatibility with the facilities program? (Katz Group)
Answer: We have worked closely with developers, urban planners, civil engineers, traffic
consultants and arena programming experts. This process has reinforced our view that the
subject lands are an optimal location for the arena district.

Updated: Thu Jul. 22 2010 09:47:21

ctvedmonton.ca

Daryl Katz and his team met face-to-face with Mayor Stephen Mandel and councillors Wednesday afternoon at city hall.

In addition to revealing that Katz is willing to add an additional $100 million towards the proposed arena development, councillors also learned that the organization has no desire to have the Oilers play in a "renovated Rexall Place."

For the first time, the Katz Group stood before council to present details about the widely discussed downtown arena district proposed for Edmonton.

The Katz Group reiterated to councillors that Katz is prepared to put $100 million directly into a new downtown arena, as well as pledging another $100 million to the development of the area.

Katz also said he's prepared to sign a location agreement as part of a new lease for a downtown arena that will keep the Oilers in Edmonton.

Katz Group spokesperson John Karvellas did express that the organization has no desire to have the Oilers play in a "renovated Rexall Place."

Northlands first presented the idea of renovating the facility back in 2007 at a cost of $250 million, and recently said the renovation could cost closer to $200 million.

Katz's chief financial officer, Paul Marcaccio pointed out to councillors that the Oilers are the only team in the league that doesn't obtain income from non-hockey related events held at their current rink.

"Daryl Katz has had to subsidize the team by several million dollars in each of the past two years in order for the team to break even," Marcaccio told council.

Marcaccio added that he believes under the team's current operating model at Rexall Place, the trend "will likely continue."

"The team is also a business and like any business it needs a sound financial base in order to be sustainable, which today it is not," said Katz.

Katz reported that the Oilers made money only three out of the last ten years. He said his goal is to sustain the National Hockey League and the Edmonton Oilers in the city for the long term.

Representatives from the Katz Group also proposed that the city borrow the bulk of the cash required to build the new arena, and pay the loan back with property taxes from neighbouring developments in the area.

The cost to build the downtown arena is now estimated to cost $450 million, up $50 million from the original amount discussed by the Katz Group.

The billionaire's $100 million would go towards the building. The Katz Group, along with city administration, has suggested a ticket surcharge could generate an extra $135 million. And a Community Revitalization Levy for residents in the area could produce another $140 million. In the end, about $75 million would still have to be found.

Council did ask Katz why he couldn't just build the proposed facility himself. But Bob Black, Katz Group executive VP, told councillors in other cities where arenas were paid for with private funding, they ended up losing money.

"Four were built in Canada with private funding, three of those failed shortly after they were built and the developers of those buildings lost both the buildings and the teams," said Black.

Katz did insist to council that he is ready to rejuvenate Edmonton's downtown.

"I'm an Edmontonian, born and raised. And I saw the arena as a means to create something really significant for this city's future," Katz told councillors.

He also expressed his desire to see the Stanley Cup back in Edmonton.

"It's no secret that I have a life long passion for the Oilers and would desperately love to see the Stanley Cup back in Edmonton but that's not why I bought the team," said Katz.

Katz went on to elaborate that a new arena could be "a generational opportunity to do something transformative for the Oilers and the city."

The Katz Group did take some time to introduce Ted Tanner from AEG Worldwide, a sports entertainment and venue operator acting as consultants in the proposed projects.

A presentation was shown to councillors detailing some of the revitalization projects AEG Worldwide has on its resume.

Mandel did pose the question to AEG, asking how they saw their role in the proposed project.

AEG says at the current time, it's advising the Katz Group on real estate development.

With files from Kevin Armstrong, Bill Fortier and the Canadian Press

http://www.edmontonjournal.com/sports/O ... story.html

Katz, who has already pledged to put $ 100 million into construction of a city-owned arena, sweetened the pot by vowing to invest at least $100 million more into development around the 6.4-hectare site along 104th Avenue.

Now, GB You go find proof that Katz is going to put 200 mil into the new arena!

--------------------------------------------------------------------------------

LOL

I wont bore with all the detail but you guy's got royally [BF]

Yogi, you are putting words into Gunbunny's mouth. He clearly said that Daryl Katz was dropping 200 million, and you responded he was only putting in 100. This is incorrect.

Daryl Katz has put forth 100 million into the arena's construction and 100 million further into the development of the area. That is Daryl Katz dropping 200 million for this project. Gunbunny did not state anywhere that all of the money was going into the arena itself, only that Daryl Katz was putting up 200 million for this project.

Indeed, as said in your article, the cost is now estimated to be at 450 million maximum, from 400 million minimum. Gunbunny suggests that the city of Edmonton should cough up 100 million dollars, and perhaps four of the oil companies in this region could put up 50 million dollars each. That is 200 million dollars.

This means 100 million dollars was all that was left actually going into the arena from that from Gunbunny's post by Katz. Essentially, Gunbunny was saying "100 million into the arena, 100 million into the surrounding area, 200 million dollars total." Essentially, all that article you quoted shows is that Gunbunny is quite right, and you are arguing against a point that Gunbunny never made.

You two^ are exactly the Rah-Rah type that mandel & katz need/want! You have read a couple of articles, and 'heard what you want to hear' and have it all figured out! They didn't have to 'dazzle you with brilliance' because they were able to 'baffle you with bullshit'!

Us here, follow this on a daily basis. Not a day goes by without some aspect of this deal being discussed/reported in the news.

I have provided you with enough info and links for you to discover what katz is actually prepared to do if you really care to educate yourselves on the matter.
The second 100 million dollars is only a 'proposal' by katz to 'go towards a stand-alone project of highrise student residences' in the area, contingent upon ( nothing katz does is without strings. Said 'strings' covering his ass only!) other post-secondary institutions contributing a substantial amount of the funding!
The idea of these rentals is not to enhance the arena district; quite the contrary. Guess where the profits from these rentals are destined to end up!
Darryl Katz is no ones fool. It would be a fool to call him one. But, he has 'baffled a lot of people' over the years, pocketed a lot of money in the process. Hey, I'm a capatalist too! This time, katz has met more resistance than he is used too!:lol:

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No federal money for downtown arena
By MICHELLE THOMPSON, City Hall Bureau

Last Updated: March 2, 2011 5:34pm
StoryCommentsEmail StoryPrintSize A A AReport Typo.
An artist's conception of the downtown arena. (SUPPLIED) Edmonton's dream of scoring federal cash to fund a new hockey arena has been put on ice.

The feds said Wednesday they won't spend taxpayer dollars on the construction of any professional sports venue, including the Katz Group's proposed project.

Edmonton had been eying that level of government to help fill a $100-million shortfall in the downtown arena funding formula. The project may now have to be scaled back, said Mayor Stephen Mandel.

"If we can't raise the money, then we have to find out whether or not we can build a lesser facility and whether (Oilers owner Daryl) Katz wants to put his money in the lesser facility," Mandel said.

"We'll have to see if we can design an arena for $350 million, which I doubt we can."

The Katz Group is pushing to build an arena and entertainment complex downtown at a cost of about $450 million. Oilers' owner Daryl Katz has said he'll pump $100 million into the facility.

City officials estimate the city could raise $250 million through a ticket tax and so-called community revitalization levy. But all that still leaves the project short $100 million.

Edmonton-Spruce Grove MP Rona Ambrose was quick to dash hopes of the feds picking up the remaining tab. "Funding for the arena is out of the question," Ambrose said.

"We are still in a period of economic recession and I do not think putting money aside for (an arena) would be the right thing to do."

Mandel said the city can still find a way to fund the project.

"At the end of the day, we have to raise the money," he said.

"We didn't anticipate getting a lot of money from the federal government because we normally don't get a lot of money from them anyway."

The Canadian Taxpayers Federation applauded the federal government's announcement, which will also mean no money for a Quebec City hockey arena and a Regina CFL stadium.

"Given the size of the deficit it was incredible the government even considered funding stadiums for rich athletes in the first place," said CTF federal director Kevin Gaudet.

"We are pleased to see this funding request finally put to rest."

Well, first of, I'm an Edmontonian, so I'm part of that "us here." I'm well aware of how much is going on in the media and elsewhere on the topic.

Second, I know a fair bit about the requirements the funding for the second 100 million dollars is going towards because I've been to one or two information sessions on the topic.

Third, I never said I was gungho for this at all, and never claimed to have it all figured out. The point was simple -- Katz is willing to have 200 million dollars invested in this project in some way, whether directly or as an incentive for investment from other parties. Personally, I'm not terribly interested in us having a new arena put into the area, and would at best prefer revitalization projects continue in it's stead (I'd like to mention that I used to live in one of the revitalization projects in the North East) or for our services to be the next focus for the city.

Fourth, stop putting words in my mouth, and others as well. I'm not for this project, nor am I from outside Edmonton, nor am I uneducated on this matter, nor am I drawing entirely from a small set of news articles, all as you have implied. No matter how you state it, Katz he been willing to put 200 million into this project. That is my only point here. No where in my post did I say he was doing it the right way, and no where in my post did I say it was a wonderful concept. I was cheer leading no one.