An agreement in principle for a new event centre and development in Calgary’s Rivers District is expected to cost $1.22 billion. Here’s how the numbers break down. yyc
Other costs: $58.5 million
The past deal saw a 50-50 split between the city and CSEC for arena costs, with the Flames ownership covering costs above an agreed-upon escalation amount. Sharp said the funds from the previous deal which fell apart at the end of 2021 are going to the new deal, with supplementation from the city’s so-called rainy day fund.‘Let’s get it done’: Danielle Smith optimistic for new arena replacing Calgary Saddledome
The Flames owners are also responsible for $1.5 million per year for community sports, a $52.5 million contribution over the term.The Government of Alberta committed to a maximum of $330 million.
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