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	<title>NHL Trade Report &#187; Tony Caterina</title>
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		<title>Edmonton Council Approves Design Of New Downtown NHL Arena</title>
		<link>http://nhltradereport.com/edmonton-council-approves-design-of-new-downtown-nhl-arena-424159/</link>
		<comments>http://nhltradereport.com/edmonton-council-approves-design-of-new-downtown-nhl-arena-424159/#comments</comments>
		<pubDate>Wed, 18 Jul 2012 13:16:33 +0000</pubDate>
		<dc:creator>Dan Fraysure</dc:creator>
				<category><![CDATA[Edmonton Oilers]]></category>
		<category><![CDATA[Hockey News]]></category>
		<category><![CDATA[Darryl Katz]]></category>
		<category><![CDATA[Karen Leibovici]]></category>
		<category><![CDATA[Kerry Diotte]]></category>
		<category><![CDATA[Linda Sloan]]></category>
		<category><![CDATA[Tony Caterina]]></category>

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		<description><![CDATA[Edmonton city council has voted to continue on with the design work on the proposed downtown arena. It&#8217;s going to move forward even though right now, the price tag for the project is $35 million higher than the approved budget of $450 million. The vote was 10-3 with councillors Kerry Diotte, Tony Caterina and Linda [...]]]></description>
				<content:encoded><![CDATA[<p>Edmonton city council has <a href="http://www.tsn.ca/nhl/story/?id=400848" target="_blank">voted to continue on with the design wor</a>k on the proposed downtown arena.</p>
<p>It&#8217;s going to move forward even though right now, the price tag for the project is $35 million higher than the approved budget of $450 million.</p>
<p>The vote was 10-3 with councillors <strong>Kerry Diotte</strong>, <strong>Tony Caterina</strong> and <strong>Linda Sloan</strong> voting against the design proposal.</p>
<p>Council has identified $17 million in items that can be cut from the design and still have a plus or minus variance of 20 per cent.</p>
<p>Councillor <strong>Karen Leibovici</strong> says she doesn&#8217;t think there will be any problem in bringing the project in at $450 million.</p>
<p><span id="more-4159"></span>Mayor Stephen Mandel is urging that the project go ahead without scaling things back too much.</p>
<p>&#8220;We&#8217;ve heard time and time from citizens, they don&#8217;t want us to build anything for crap,&#8221; Mandel said.</p>
<p>&#8220;They want us to build a good building, so I think at some point in time council is going to have to decide if it is going to be over, what is the overage going to look like.&#8221;</p>
<p>Sloan says she doesn&#8217;t like where this is going.</p>
<p>&#8220;I frankly don&#8217;t care if (the arena exterior is) zinc or steel and I don&#8217;t have any questions for the consultants because I think we&#8217;re not at the stage where we can discuss the next stage.&#8221;</p>
<p>&#8220;If we&#8217;re going to build the bloody thing we need to get together and find consensus and find differences we have with ourselves and solve them,&#8221; said Mandel.</p>
<p>&#8220;This project is about more than an arena. It is a catalyst for revitalizing downtown, and it is important to realize council&#8217;s vision for a strong and vibrant core to our city.&#8221;</p>
<p>The arena would be the new home for the <strong>NHL</strong> <strong>Edmonton Oilers</strong>, owned by drugstore magnate <strong>Darryl Katz</strong>.</p>
<p>The city is to pay $125 million towards the building, with another $125 million coming from a ticket tax and Katz putting up $100 million leaving a shortfall of $100 million.</p>
<p>City officials are still trying to secure $100 million in funding from the province an amount that was part of 17 conditions discussed when the arena agreement was made.</p>
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