Silver Optimistic About New Bucks' Arena PNC Arena Expansion Plans Revised Plans Advance For DC Soccer Stadium DePaul Arena Will Cost More Than Once Thought Reds Upgrading GABP Ahead Of All-Star Game Flames Close To Arena Announcement? Vegas Arena Could Be First With Retractable Roof Univ. Of Nevada Proposes Mackay Upgrades Facility Notes Saints' Benson Gives $11M To Pro Football HOF
SBD/July 17, 2012/Facilities
Oilers Arena Project Running Over Budget, Alberta Hesitant To Chip In Extra Funds
Published July 17, 2012
MONEY TALKS: The NATIONAL POST's Jen Gerson notes the latest estimates to be presented to city council today suggest the project "could actually run to C$485-million -- unless changes are made to keep costs down." The project has "garnered almost unceasing scrutiny since it was proposed; the municipal government has agreed to a proposal that would see it foot much of the bill for the arena, although it remains short C$100-million in financing, with the province so far unwilling to chip in" (NATIONAL POST, 7/17).
IF YOU BUILD IT...: The GLOBE & MAIL's David Ebner noted Katz and Edmonton Mayor Stephen Mandel "believe the arena is an essential one-of-a-kind spark for the city's downtown, a draw for people, real-estate development and a font of new property taxes." They "want to replicate the downtown arena districts in places such as Los Angeles." Critics of the Edmonton arena deal "look at Katz's on-paper wealth and wonder why he can't just build an arena himself." Katz said that Edmontonians "underappreciate the money he has spent, and has committed." Katz: "I'm a builder. I can't say I really would have been interested in buying the team at all, but for the opportunity, through the team, to do such a transformational thing for the city, and also sustain the team, and sustain the NHL, and build a new arena, and revitalize the city. It was the whole kind of thing that was really attractive to me. I didn't have a burning desire to own a hockey team" (GLOBE & MAIL, 7/14).