Here we go, again a city is trying to build a major arena/convention centre and that city is trying to get the Federal government and the Provincial government to pay for it.
I have always expressed distaste with this idea and it is universally panned by taxpayers across the country. “Why should taxpayer dollars go to fund a facility for a team, why should the team owner not pay for it” is the general thought process.
I will admit i think slightly differently on this event centre but not enough to suggest that in this instance federal and provincial funds should be used. This “event centre” is the prime opportunity to show our ingenuity in creating appropriate financing.
The main reason why it is said we need federal and provincial funds is because the event centre will not pay for itself. It is good for the city but not financially viable.
The solutions is simple CHANGE THE DESIGN make sure sufficient commercial and residential space is available that the rental costs will cover the costs of the mortgage on the building as well as the operating costs so that any events held only have to pay for themselves and not try to pay for the building with the events. Paying for the building through events drives up the ticket costs keeping many from attending events and reducing revenue available to neighbouring business.
The ideal of the event centre is great but a few changes to the design of the centre will reduce a major amount of the costs to the taxpayer and make this a far more feasible project with greater long term benefits.
It is not always about getting someone else’s funding for our projects, that funding should be available for other more important things like health care, police funding, education and instead be creative to make an event centre work for us and show other communities how it should be done.