Downtown Arena Top-10

TOP 10 REASONS WHY THE ARENA DEAL MAKES SENSE

  1. 1. Council’s decision is whether to renovate Rexall Place, an older facility first opened in 1974, or build a new downtown arena. Doing nothing is not an option!

 

  1. 2. Northlands got what they asked for! Katz backed off on the non-compete clause.

 

  1. 3. The City will own the arena — not Katz. He’s our tenant.

 

  1. 4. If Katz defaults, the City will have different ways to deal with it starting with taking arena revenue to pay his commitments.

 

  1. 5. Under the deal, Katz assumes all of the risks for operating, maintenance, and all capital costs.

 

  1. 6. The arena and other downtown projects will spur development and generate $1.2 billion in new tax revenue over the next 20 years.

 

  1. 7. The project will play a key part in revitalizing our downtown.

 

  1. 8. The City gets a location agreement, approved by the NHL that prevents the Oilers from being moved for 35 years.

 

  1. 9. Property taxes will not be increased to pay for the new arena.

 

  1. 10. We need to build now, while interest rates and construction costs are relatively low!