The private sector invests in projects likely to make money as they do not have access to the money making machine government has (aka taxpayers). The days of big government spending our money like drunken sailors has to come to an end.
I guess we'll see but somehow I think, hope I'm wrong, that Ford in T.O. will convince Harper it's "good for Canadian unity" that the feds contribute huge sums to an NFL-style stadium, not to be used by the CFL for any reason, for Toronto since all of Canada would benefit, according to Ford's twisted logic I'm sure. Hopefully Harper is smart enough to not fall for a lie like this one. He's shown good judgment with Jack Layton receiving a state funeral so there is hope.
This is a balloon floated by the mayor. The project is 1 billion of which 400 million in public funds will be spent right away, while the other 600 million of private investment will happen over 15 years LOL ! Now they claim they have 250 million so I am going to assume that they are looking for 150 million in fedral tax handout for their pro football team stadium with a promise that it will generate 600 million in real estate development over 15 years.
Now if they are building a 250 million dollar stadium with their own money that's awesome :thup:
The new stadium would have to have a dome or retractable roof. The reason is that Regina's mayor is selling it as a "multi-purpose, year-round entertainment facility" rather than a sports stadium. Can't make that claim of an open air stadium in Regina.
ONE BILLION DOLLARS!!!!!
75% from the private sector
That is alot of dough to come up with for a small city of 200,000
The total population for the entire province is 1 Million
On property that CP rail owns,we have heard that one before!
I'm sorry but $1BILLION stadium for a population of 200,000.
Those numbers just do not add up.
Our $50M future fund investment into a completely modernised IWS2 without raiseing taxes one thin dime sounds like a great investment now.
So if everyone in Saskatchewan puts in four dollars they can have a brand new stadium facility that will attract concerts, trade shows, and other sporting events to their economy. Hamilton gets a facelift on a poorly located open air stadium to host ten CFL games per year. Yep, that's the difference between common sense and other. That's one of the reasons Saskatchewan is booming and Hamilton isn't.
The people of Saskatchewan will support this endeavour in a heart beat. It will bring money into their province and will be a great host for Grey Cups. Conversely, Hamilton won’t be hosting any Grey Cups nor will IWS2 do anything more for the local economy than the stadium does now. Unless you live within walking distance of IWS/2 the location is a liablity.
It is true that Saskatchewan's economy is very strong from potash and the oil and gas industry.
If they can come up with $1B for a Covered Stadium and downtown revitalisation, then good on them.
Hamilton is not anywhere close to being in that position.
Myself I think that Hamilton got a great deal for the $50M Future Fund money being spent by upgrading IWS2 so it can be used for CFL, Soccer,Grey Cups and concerts not to mention community functions.
Not just the 10 CFL dates it now hosts.
If Hamilton was to build a new stadium the only area you could get private money to invest in was apparently Confederation Park and our elected council rejected that location.
IWS2 will be great and now the City will have to improve the area around the Stadium.
Ford is a common sense Conservative and he would never ask taxpayers, federally or locally to contribute to an NFL stadium. If Toronto wants an NFL stadium it will be the private sector such as Rogers that would step up and renovate the Roger Centre or build a new one.
Saskatchewan's economy is also benefitting from the people kicking out the socialist NDP and electing a common sense party to manage things.
IWS2 will host Grey Cups and concerts? Do you have a source for this announcement?
Why doesn't the City improve the area around IWS now?
Hamilton could have had a new complex that would have brought money into the local economy but instead it gets a reno on the existing facility that doesn't bring in much. Watch what happens in Regina to get an idea of what can be accomplished with the right people in place.
Staff have reviewed a Preliminary Structural Summary Report on the north stands of Ivor
Wynne Stadium which indicates that should the renovation of the north stands be
undertaken then they would be subject to the Ontario Building Code for those parts of
the existing building subject to the material alteration or repair.
However, if there is a "changeof use" from a sports purpose-built facility to a multi-use
entertainment facility (i.e. for concert events) then there would be additional life safety
and performance requirements applicable to the entire facility. This would include the
north stands whether or not any renovations were undertaken on it. These requirements
could include extension of sprinklers, fire alarm, standpipes and emergency lighting, etc.
Without this work, these types of events (i.e. concerts) would not be permissible in the
Upon visual inspection of the concrete seating slabs within the north stands, some
deterioration has occurred. The City's structural consultant has recommended limiting
the life span of the concrete seating slabs to another 10-15 years and during that time,
perform load testing every five years to verify the structural integrity of the seating slabs.
Should the City wish to bring the north stands into compliance with the Ontario
Building Code, the top 32 rows of seating slabs would be required to be
replaced. Currently, the rows are 27 inches wide and the code requires the rows to be
32 inches wide. Ideally it would be recommended to replace the lower 21 rows of seats
at the same time to maximize the value of the renovation. Additionally, to meet the
Building Code the north stands would also require upgrades to the mechanical and
electrical systems, renovations to the washrooms and concessions to make them barrier
free and replace the hand and guard rails. The total cost of the renovations is estimated
to be $ 9.8 million.
There is a benefit to undertaking the renovations of the north stands at the same time as
the construction of the new south stands. Efficiencies would be realized not only in the
architectural and consulting fees but the larger the construction project, the greater
potential for savings and allow for all construction to be completed at the same time.
Grey Cup Games: The Tiger-Cats will attempt to bring at least two Grey Cup Games
to Hamilton over the next ten years. It should be noted, however, that with a maximum
expandable capacity (with temporary seats) of 35,000, this is maybe below the preferred
level of the CFL. The Tiger-Cat representatives have indicated that the shortfall of
10,000 seats could be addressed through a payment of approximately $2 million per
Grey Cup from the City to the CFL. This potential cost is not included in the financial
analysis and is not recommended at this time.