On Monday, during the first chunk of what’s going to be a multi-day city council meeting, the proposed changes to the arena deal between the Calgary Flames’ parent, the Calgary Sports and Entertainment Corporation, and the City of Calgary were revealed.
They are, all in all, fairly minor.
Here's a nice summary of the arena deal changes. #yyccc #flames pic.twitter.com/ACjoQUSiJY
— Ryan Pike (@RyanNPike) July 27, 2021
There are three main proposed changes to the project framework.
#1: Funding in the original agreement that could be enacted in event of overruns has been enacted, but the City has closed off the path for additional future funding
The original project framework included a provision that up to $25 million of “eligible cost overruns” – things in the original scope that cost slightly more than expected – would be covered 50/50 by the City and CSEC, for an extra $12.