City of Regina Takes Out $100 Million Dollar Loan For Stadium

[iso_55]

Okay, just did the math on the new stadium for the Roughriders. The City of Regina is taking out a $100 million dollar loan to cover their share of the stadium, the Province of Saskatchewan is putting in $80 million & the Riders $25 million. My math says that is $205 million, well short of the $270 million price tag that was said to be the cost of building a "roof ready stadium". Looks like the project has been scaled back

 

.http://www.thescore.com/cfl/articles/2878585-regina-city-council-outlines-game-plan-for-loan-to-build-new-stadium

 

 

[Guest]

http://www.cbc.ca/news/canada/saskatchewan/deal-signed-for-new-stadium-in-regina-by-2017-1.1195348

 

 

The funding for the facility, according to officials, will be:

• $80 million grant from the province of Saskatchewan.
• $73 million from the city of Regina.
• $25 million generated by such things as naming rights, to be coordinated by the Saskatchewan Roughriders Football Club.
• $100 million loan, from the province, to be paid down over 30 years through a $12 per ticket facility fee tacked onto each football game or any other event at the new stadium.

[iso_55]

Of course, the story never mentioned a grant. What a twisted weave to try & understand. All these grants, loans & financing. Thanks for clearing that up, Snow_Rogue

[ALuCsRED]

 

Two points of clarification:

 

1.  There is currently an $8 fee at Mosiac.  It will be increased to $12 to pay for the stadium.  

2.  There will also be an 0.45% property tax increase in each of years 1 - 10 for Regina properties that will be earmarked for the stadium for the next 30 years.

 

My only question is what does the $8 per seat fee currently go towards?  Why will this $8 not be needed (meaning the whole $12 goes to the City's loan from the province)

[Mr Dee]

Deleted

[Jaxon]

 

http://www.cbc.ca/news/canada/saskatchewan/deal-signed-for-new-stadium-in-regina-by-2017-1.1195348

 

 

The funding for the facility, according to officials, will be:

• $80 million grant from the province of Saskatchewan.
• $73 million from the city of Regina.
• $25 million generated by such things as naming rights, to be coordinated by the Saskatchewan Roughriders Football Club.
• $100 million loan, from the province, to be paid down over 30 years through a $12 per ticket facility fee tacked onto each football game or any other event at the new stadium.

 

HMMM, Does this mean that the Regina Thunder (CJFL) and the University of Regina Rams (CIS) will have to pay $12 per ticket?  Most teams charge about that for a ticket in either league.  Does the stadium fund now get 100% of gate revenue for amateur ball?

[blueandgoldguy]

 

 

Two points of clarification:

 

1.  There is currently an $8 fee at Mosiac.  It will be increased to $12 to pay for the stadium.  

2.  There will also be an 0.45% property tax increase in each of years 1 - 10 for Regina properties that will be earmarked for the stadium for the next 30 years.

 

My only question is what does the $8 per seat fee currently go towards?  Why will this $8 not be needed (meaning the whole $12 goes to the City's loan from the province)

 

Bombers had a similar fee at CanadInns.  Went towards stadium maintenance.  I'm sure it's the same for Mosaic.

 

Can't wait to see the first renders of that new stadium in the coming months.  Should be a beaut.