New Arena Report Highlights Progress

February 24, 2011

Discussions underway with Katz Group

A new City administration report updates City Council on progress made to date in several areas on the proposed downtown arena project. The report will go before Council on March 2.

“Our goal is to provide Council with the information they have asked for so that they can make an informed decision on whether this project should go ahead. We have provided some of that today and will provide additional information in April,” says Simon Farbrother, City Manager.

The report briefly notes that discussions with the Katz Group are underway and administration anticipates reporting back further in April. Administration will also bring back information on two funding options – a Community Revitalization Levy and Seat Licensing – in April. Some general information, based on other cities’ experiences with the sale of seat licensing models is included in the report.

In today’s report administration also provides further background on a foundation model of governing the proposed arena model, an approach administration raised in its January report. The foundation would have a mandate to make decisions in the best interest of the facility while also representing the public interest. Members would be individuals with expertise in the following areas: construction, facility maintenance, sports and entertainment, legal and finance.

Other items discussed in the report, scheduled to go before Council on March 2, include: the experience of other cities with similar developments, corporate social responsibility/community benefits and facility design. The report also outlines some next steps that Council may want to consider.

Read the report. Visit Proposed Downtown Arena for more information on the proposed arena and entertainment district.