How the Agreement Framework responds to Council Terms and Conditions
Council identified 17 terms and conditions of a possible agreement on April 6, 2011. Here is an outline of how the agreement framework between the City and the Katz Group addresses those terms and conditions.
| 1. Maximum Price $450 million | AGREED |
| 2. Confirmation of Katz Group commitment of $100 million contribution | AGREED |
| 3. User Fee of $125 million to fund capital costs | AGREED |
| 4. Evaluate options for $20 million Community Revitalization Levy (CRL) contribution | The City of Edmonton will raise $45 million through a CRL. |
| 5. That the City of Edmonton contribution will not exceed $125 million including any CRL contribution, and the City evaluate options for up to $105 million from other sources | AGREED, City of Edmonton still evaluating options. |
| 6. City will own the arena and land | AGREED |
| 7. Any land that will be purchased will be at fair market value | AGREED |
| 8. Katz Group will operate new facility and is responsible for operating costs | AGREED |
| 9. Project cannot proceed until the balance of funds are confirmed | AGREED |
| 10. Administration to continue to work with Northlands | AGREED, on-going |
| 11. 30-year location agreement | AGREED, for 35 years |
| 12. City access to the new arena four weeks a year | AGREED |
| 13. City to negotiate potential revenue sharing | Katz Group responsible for all operating costs and capital costs after construction, so will receive all revenue |
| 14. Investigate opportunities for a lottery model for the Foundation | AGREED, on-going |
| 15. Provide a report on naming rights | Naming rights are provided to the Katz Group, as they are paying all operating and capital upgrade costs |
| 16. Community Benefits Agreement | AGREED to develop |
| 17. Final negotiated agreement be brought back to Council | Council has provided the City Manager with the authority to proceed to finalize a Master Agreement. |
For More Information
| Online | Contact 311 Online |
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| Telephone | In Edmonton: 311 Outside Edmonton: 780-442-5311 |
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| TTY | 780-944-5555 |
| 311@edmonton.ca |
