Poll: Should Edmonton build the downtown arena? - The answer to this question is not getting at the core of the problem, it's a much more complicated issue -- It's not a matter of *if* an arena should be built, but rather, IF one is built, who is going to pay for it?
by tigerlily10/26/2011 2:30:13 AM
Build a indoor stadium for foot ball and other sport game, plus home shows, ect for the public that is covered, hockey can be played with a up date in the old arena
by Douglas Olney10/26/2011 1:09:18 PM
I think a 79 year old business man summed it up well -- we are not against a downtown arena, but how do you justify giving a billionaire tax payer money so he can collect all the revenue.
by OMG10/26/2011 1:11:18 PM
At this point the upfront cost of $450 million is totally funded by City, which means a loan. At 8%, for 30 years, it will cost city $1.17 billion, $720 million in interest plus $450 million in principle.
by OMG10/26/2011 1:13:41 PM
Using same 8% rate, don't be fooled by fact it appears Katz Group switch from $100 million upfront to 30 payments of $5.5 million (totalling $165 million) means he's paying more. Time value of money would suggest he is actually paying $22 million less. As the lump sum equivalent of 30 payments of $5.5 million is $78 million dollars --
by OMG10/26/2011 1:16:31 PM
Total project cost needs to be transparent and disclosed. Is the $30 million for land included in $450 million or not?
by OMG10/26/2011 1:18:07 PM
We need to build this arena to draw more people into the downtown area. I believe that this is necessary for the growth and future of Edmonton. Imagine a city without the Edmonton Oilers...
by william ma10/26/2011 1:28:21 PM
The Katz group should not get a monopoly on the concerts for Edmonton.
by debbie10/26/2011 1:39:33 PM
They will have a distinct advantage with the new facility and it's location
by debbie10/26/2011 1:40:22 PM
The money could be put to better use for example health care.
by Anne Windsor10/26/2011 1:40:41 PM
Time for the paralysis by analysis to stop, and to move this stagnant city forward.
by Time for Edmonton to move...10/26/2011 1:42:00 PM
Lets get on with it, we continuously watch Calgary & its dynamic growth & look fwd attitude, time for Edmonton to move on. I agree with the business community, time for Edmonton to look to the future instead of languishing in the past. The longer we wait, the more it will cost.
by Ron Wyman10/26/2011 1:56:30 PM
I agree we watch Calgary -- but in Calgary business pays more then lip service -- they actually put their money up, rather than look to government for hand outs.
by OMG10/26/2011 2:03:18 PM
If Daryl Katz wants the new arena, he should foot the bill for it. As a taxpayer, I'm not comfortable having to pay for something I don't want (or need).
by Jacqueline Victoria10/26/2011 2:06:36 PM
I don't think that the yes voters have thought of the implications regarding Northlands. They have been doing a good job in this business for 100 years. This will cause a slow death to Northlands and ultimately the taxpayer that covers the shortfalls. Most of our younger citizens of Edmonton don't know the importance and the history of Northlands. This city can not support 2 arenas and we already have a good one. Why would you not want the money to indirectly stay in the city coffers by supporting Northlands. Instead of giving billionare Katz a new arena with all the profits. The younger crowd is only thinking of another venue to party around and not the big picture and our mayor is part of the problem. He does't care how much he puts the city in the hole cause he won't run in the next election anyway.
by mike zelenak10/26/2011 2:11:43 PM
Need to have vs nice to have. Taxpayer money should be spent on essentials not frivolities!
by Dawn10/26/2011 2:13:22 PM
We don't finance companies required buildings so WHY FINANCE A BILLIONAIRE????
by freddy10/26/2011 2:26:30 PM
Who will downtown arena draw downtown? Most people who do not WORK downtown, will not be able to afford to attend events at the arena and will not go downtown. Hockey games are in evening -- seems to me the businesses that will benefit are the restaurants and bars. So why are those benefiting not contributing??
by OMG10/26/2011 2:30:40 PM
Coliseum (Rexall) has a lot of history and memories. Why don't we show the rest of the world that we don't have to tear down a perfectly good building just to have a fancier arena. We should be more concerned with LRT, our terrible road conditions,, and for council to reduce our taxes for a change. There is economic turmoil in the world and we are concerned about an arena. The NHL will not allow Katz to move the Oilers, he can only sell them. Besides , other cities operate just fine without a pro hockey team.
by mike zelenak10/26/2011 2:31:50 PM
Dawn, how is a new arena a "frivolity"? You know, it will only draw more money, more entertainment, more events, and give back to the city and it's citizens in terms of economic and physical growth.... but you know... those are just "frivolities" that won't help the city at all. Sorry, but we're not a small city of 250,000 or 500,000 anymore. We're a city with of over 1,000,000. Let's act like it and grow up. Real cities and it's citizens step up to take on a challenge that helps to move them forward. It's time to step up Edmonton.
by Steve10/26/2011 2:48:34 PM
I notice you can vote as often as you like in this poll which makes it easy to fix the vote? WHY DOES KATZ GET 100% of ALL THE ARENA PROFITS with no up front investment?
by FKC10/26/2011 2:54:26 PM
invest a small number of dollars on Northlands and it will be as good as any in NHL. KATZ WILL NEVER LEAVE EDMONTON AS WE HAVE THE BEST FANS IN THE NHL we must call his bluff...
by FKC10/26/2011 2:59:34 PM
Finding this poll is so difficult it is no wonder yes has a "fixed" majority
by kc10/26/2011 3:06:30 PM
The Global News crew at city hall, ready to cover today's arena
by karyn.mulcahyvia email10/26/2011 3:13:52 PM
Yes, let's not stagnate, move on and forward with the arena and all the economic benefits it WILL bring! You Nay sayers are a lot blind nerds that can't see beyond your nose! We need this arena. Rexall can still be valuable too! We look on expecting Edmonton to move forward dynamically from the west coast! Go Edmonton!!
by ken10/26/2011 3:25:02 PM
All of the nay sayers need to learn more about the facts rather than just crying about NOT WITH MY MONEY!
by BUILD IT10/26/2011 3:30:31 PM
The Oilers (Katz) are the only team in the league who doesn't collect all of the profits from non hockey related events. If it isn't a YES vote, Katz will put the team up for sale and there isn't anyone else in this damn city who would be able to afford buying it, let alone build a new arena. Let's all be thankful that Katz is a visionary in a city which is stuck in the 70's and that he's putting up the money that he is... ($165 million).
by BUILD IT10/26/2011 3:36:44 PM
Global live blogging at city hall
by karyn.mulcahyvia email edited by Karyn Mulcahy10/26/2011 3:36:50 PM
there's LIVE coverage on SHAW cable 10 of the council meeting.... Mandel seems upbeat and happy....let's DO IT!