ICYMI: Cost of failed arena deal comes in at $16.8 million yyc
The number was contained in a city briefing going to councillors before Thursday’s executive committee meeting.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
The money came from a council-approved $312.9-million capital budget, meaning there is $296.1 million remaining. The briefing does not say what will happen with the remaining funds. It is unclear if it will automatically go toward any future event centre agreement. The city has attempted to restart talks with the Calgary Sports and Entertainment Corp. on a replacement for the Saddledome by bringing in a third-party mediator.
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