Downtown Arena Top-10
TOP 10 REASONS WHY THE ARENA DEAL MAKES SENSE
- 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!
- 2. Northlands got what they asked for! Katz backed off on the non-compete clause.
- 3. The City will own the arena — not Katz. He’s our tenant.
- 4. If Katz defaults, the City will have different ways to deal with it starting with taking arena revenue to pay his commitments.
- 5. Under the deal, Katz assumes all of the risks for operating, maintenance, and all capital costs.
- 6. The arena and other downtown projects will spur development and generate $1.2 billion in new tax revenue over the next 20 years.
- 7. The project will play a key part in revitalizing our downtown.
- 8. The City gets a location agreement, approved by the NHL that prevents the Oilers from being moved for 35 years.
- 9. Property taxes will not be increased to pay for the new arena.
- 10. We need to build now, while interest rates and construction costs are relatively low!