ICYMI: Event-centre meeting may clear up details for Calgarians yyc yyccc
for the event-centre portion of the agreement as 56 per cent from the city, 38 per cent from CSEC, and 8 per cent from the province.
He also questions why CSEC’s repayments of that $316 million are being framed as “lease payments” by the city. “All revenues streams, which include ticket surcharge and naming rights, within the Calgary Event Centre Block, are consolidated into one committed and predictable lease payment to The City — $17 million per year for 35 years,” reads the website, which also notes the annual 1 per cent escalation of that payment.
“The city is getting zero operating revenue from this,” he said. “It’s all capital investment with zero revenue.”selling four parcels of land near the event centre at market value
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