Edmonton Councilor To Vote On Revised Arena Deal
Edmonton city councilors are set to vote on a revised deal to build a downtown arena for the Edmonton Oilers.
City bureaucrats, who have been negotiating with team owner Daryl Katz, are recommending a deal to build the arena and surrounding infrastructure for $601 million.
Edmonton taxpayers would pay $219 million to go with $143 million from Katz and $125 million from a ticket surcharge.
Even if approved, the deal would still be $114 million short.
Both sides are hoping the provincial government will contribute that amount, but Premier Alison Redford has repeatedly stressed there will be no direct funding for a private enterprise.
This would be the second time the city and Katz have agreed to build an arena a deal struck in 2011 collapsed late last year after Katz demanded an extra $6 million a year from taxpayers.
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