Thursday, March 03, 2011

I'll drink to that!

Edmonton could earn more than $6.5 million a year in property taxes, which would help pay off the debt it would incur if it covered one-third of the cost of a downtown arena, city administrators told council Wednesday.

Mayor Stephen Mandel said councillors need to make up their minds to ink or tear up the deal within a month. "It's enough already. I think we're going around too many circles and let's make a decision."

Anthony Hendlay construction (5 year project), Upgrader in Fort Saskatchewan (3-5 year project), Proposed downtown bridge (3 yrs?), Various LRTs and of course don't forget the possibility of a new arena. Even during the recession Edmonton continued with infrastructure but has certainly stepped up the pace now. I think a new arena will vitalize the downtown area, but isn't necessary. Built with private money... I like that idea too.

Here on the South Side there is another interesting project in the works and that is transforming the old Molson brewery into character town-homes with a mix of commercial business and restaurant space. Great idea. I can't wait to see that. Lots of building = strong economy.

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