SBD/April 27, 2012/Facilities

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  • Markham Council Approves Financing Plans For New Venue To Rival Air Canada Centre

    The Markham City Council in Ontario voted late Thursday “to move forward with plans to borrow” C$162.5M for a “massive arena that could rival Toronto’s Air Canada Centre,” according to Kate Allen of the TORONTO STAR. The council “passed the resolution 11 to 2.” Council member Alex Chiu before the vote said, “I’m looking forward to seeing the Markham Chargers beat the Toronto Maple Leafs.” Town officials “repeatedly mentioned that Markham will raise the money through charges to developers and service fees at the arena, and not with property tax hikes.” The city’s financial contribution of C$162.5M represents half of C$325M “in construction costs for the project.” The other half “will be provided by a private partnership, GTA Sports and Entertainment (GTASE), chaired by sportsgear executive W. Graeme Roustan” (TORONTO STAR, 4/27).

    TEAMING UP: On Long Island, Roderick Boone notes Barclays Center Developer and Nets Minority Owner Bruce Ratner “didn't shoot down the possibility of the Islanders taking up residence at the Nets' new home in Brooklyn once their lease expires at Nassau Coliseum in 2015.” Ratner said Islanders Owner Charles Wang “is a friend" and the two talk “all the time.” Ratner: “We've talked for years and I think the major call is to make sure, first, the team stays in New York State. After that we'll see what happens" (NEWSDAY, 4/27).

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