With incumbent Mayor Stephen Mandel re-elected and driving Edmonton's civic agenda, Edmonton city council is reaching out to the public for input on a proposed downtown arena complex and entertainment district.
The city was asking for input on the estimated $450 million project on its website, and had scheduled a series of open houses throughout November to gain feedback on the idea.
A downtown arena is favoured by the Katz Group, which owns the Edmonton Oilers. The Oilers currently play in relatively small Rexall Place, the second-oldest NHL arena, which is situated a few kilometres northeast of downtown.
The Katz Group has expressed a willingness to put $100 million of its own cash into a new arena, and another $100 million into a surrounding entertainment district on the northern fringe of downtown. The city is looking at a community revitalization levy tax scheme, one that would see future tax money from property assessment growth in the area used to pay off borrowing that would be needed to pay the city's end of the project.
from Western Investor, December 2010
