Cost to close failed arena deal rings in at $16.8 million

The number was contained in a city briefing going to councillors before Thursday’s Executive Committee meeting.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.

The $16.8 million came from a council-approved $312.9 million capital budget, meaning there is $296.1 million remaining. The briefing does not say what will happen with the remaining funds. It is unclear if it will automatically go towards any future event centre agreement. The city has attempted to restart talks with the Calgary Sports and Entertainment Corporation by bringing in a third-party mediator.

So Murray is paying that ?

REMINDER: The Flames came back to the City for an extra $12.5M in July 2021 under the condition that they would pay 100% of any further cost overruns. And then construction costs went through the roof. Anyone blaming the City is being disingenuous.

gondekmustgo

no winners here, only losers.

Well, the Mayor will need to take out a personal bank loan because this is ALL on her.

It could of been much worse, that and the olympic bid..

Holy crow, that’s quite the boondoggle

Cancelled because of useless woke “green” requirements pushed by council at the last minute.

“Chose to walk away due to escalating costs”? Try this instead: “Chose to walk away due to escalating climate costs introduced and imposed by the City of Calgary AFTER the contract was signed.”

Smart decision. Saved the taxpayers hundreds of millions. Excellent job.

Thank you JyotiGondek , you are so smart and you really know you are doing! NOT!!

But the art around the city is 🔥🔥.. soon that’ll be the closest thing to the flames Calgary will have. sadly

Outrageous waste of money! Where the fiduciary duty of those who signed this deal?! Sue them for their incompetence!

JyotiGondek sic_sonja Well done Jyoti, pissed another $16 MM of tax payers money away……

JyotiGondek good job 👏 👍 👌 haha

And with the 87 million they want to wast on climate change comes to over 100 million ….ridiculous

I did that

Impressive

Well done JyotiGondek well done.

16 million that could have been spent on roads transit things everyone uses

What a joke

Corporate Welfare

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Landowners’ association, City of Mississauga differ on Dundas Street development - constructconnect.com - Daily Commercial NewsMISSISSAUGA, ONT. — The Dundas Landowners’ Association (DLA) is expressing concern with the City of Mississauga’s decision to approve several Official Plan Amendments (OPA) that “reinforce the status quo and severely limit the creation of new walkable, cl
Source: DCN_Canada - 🏆 17. / 74 Read more »

City of St. John's launching resident satisfaction survey | SaltWireST. JOHN'S, N.L. — The City of St. John's is launching a survey to gauge resident satisfaction in the capital city. City officials said that over the next ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

Prince George city council seeking more housing solutionsA report on potential strategies, including those used by other B.C. municipalities, will come back to the next city council.
Source: PGCitizen - 🏆 65. / 51 Read more »

City looks to increase shopping bag fees and reduce single-use itemsA city committee is set to discuss a single\u002Duse items reduction strategy in an effort to encourage less waste. I’d rather they focus on things like the little prostitute/drug den that’s been set up on memorial drive underneath the 14th st NW bridge that I regularly see teen girls hanging out at Tax grab Amazing that nearly everything that we buy in a grocery store, Canadian Tire or a Walmart are in single use plastic packaging, but we can't use the bags that we all use a few times for kids' lunches etc.
Source: calgaryherald - 🏆 64. / 52 Read more »

City looks to increase shopping bag fees, reduce single-use itemsA city committee is set to discuss a single\u002Duse items reduction strategy in an effort to encourage less waste. “The strategy would also implement a “by request” requirement for all foodware items like straws, stir sticks, utensils “ There is never a shortage of people obsessed with micromanaging the lives of others. yyc yyccc Of course they are because yyccc is comprised of the biggest bunch of self important buffoons the city has ever seen. Cant fix the stuff they are responsible for so they stick their collective noses in everything else. Useless. I believe the seriousness of this when Pampers are banned. Until then I will do my part and bring my reusable bag.
Source: calgarysun - 🏆 63. / 52 Read more »