For a solid week near the end of June, artist Michelle Hoogveld fielded questions on the street from curious passersby as she worked on a massive street mural…
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The results of months of confidential negotiations between the city and the Calgary Flames ownership group were publicly released this week, revealing that the cost overruns clause from the deal for the new facility had been triggered. That means the city and the Calgary Sports and Entertainment Corp. (CSEC) split an additional $25-million contribution to the building, adding up to a new cost of $575 million.
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But creating the Saddledome’s replacement was set to be even costlier, with the current price tag estimated at $608.5 million. City manager David Duckworth told council Wednesday that change led to lengthy talks to find a solution.
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The results of months of confidential negotiations between the city and the Calgary Flames ownership group were publicly released this week, revealing that the cost overruns clause from the deal for the new facility had been triggered. That means the city and the Calgary Sports and Entertainment Corp. (CSEC) split an additional $25-million contribution to the building, adding up to a new cost of $575 million.
We apologize, but this video has failed to load.
Try refreshing your browser, or City council OK s terms to restart arena work after months on pause Back to video
But creating the Saddledome’s replacement was set to be even costlier, with the current price tag estimated at $608.5 million. City manager David Duckworth told council Wednesday that change led to lengthy talks to find a solution.
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Proposed agreements to push ahead the stalled plans for the event centre in east Victoria Park were publicly released Monday, following months of budget talks behind the scenes.
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The documents reveal that early in 2021, the building’s total cost was projected as high as $620 million, up by almost 13 per cent compared to the $550-million facility proposed two years ago. Further discussions shaved that number down to $608.5 million, but city hall and CSEC have been trying to hammer out how to cover the extra cost.