|
City Council has approved an agreement framework between the City and the Katz Group to build a new downtown arena. The framework sustains NHL hockey in Edmonton for 35 years, supports downtown revitalization and limits the City-s risk.Mayor Stephen MandelKatz Group's John KarvellasListen to the complete press conferenceCity Manager Simon Farbrother-We believe this framework is fair for both s 606 football ides and reflects what we heard from Edmontonians,- says City Manager Simon Farbrother. -This framework allows us to move forward with this project and ensures that we will continue to align our efforts with what the community has told us are Edmonton-s priorities for this important project.-The framework closely reflects the terms and conditions outlined by Council in the motion passed at the 606 football ir April 6th meeting ( The price for the arena building is set at $450M The Katz Group will contribute $100M The City will own the building and land The Oilers will remain in Edmonton for at least 35 yearsThis framework does not constitute a final and binding agreement. Both parties will now begin to work on the Master Agreement to advance the project further, including by working to 606 football secure the remaining funds required. 606 football
|