OSEG and City of Ottawa reworking Landsdowne Agreement

This was something in the works for a while as foot traffic has underperformed.

Covid-19 including No CFL season or home games with Atletico and uncertain OHL season is accelerating this.

Recommendation of accessing a 4.7 million capital account for operations. Also to extend the agreement by 10 years, also look to create a group to brainstorm ideas to bring more traffic in...once it's allowed again.

Meet on November 12 to go over this will council with possibly a full council vote on November 25.

Finance Committee unanimously approve the reworked agreement

Audit of the agreement due November 24 followed by a full council vote scheduled for November 25.

OSEG promised the development would generate so much in profits that the City's share would pay off the City renovating/constructing the stadium ... not certain a single cent has made it into City coffers ... football fans have benefited ... taxpayers have been ripped off and now the City plans to double down when their first card was a Joker (and Jokers are not wild).

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I thought you like the CFL ?

I do ... but as a taxpayer in Ottawa I want my tax dollars managed well ... ESPECIALLY when the City's 2021 budget faces a $153 deficit.

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Understood but really there is no business case for any CFL facility alone .

It's not that bad of a deal for the city compared to many boondoggles they are involved in .

Covid was the final straw when you have government restrictions on private business that overwhelm the balance sheet to the extreme .

Seeing how Landsdowne isn't paying off like promised is what is putting the halt on the expansion out East.

A CFL stadium isn't enough of a draw to turn a neighbourhood around. Many crap on Hamilton's decision to rebuild at the same site, but I still think it was better than trying to "build the world" around a the stadium at a different site.