New arena could cost $5 extra per ticket

A new report to city council says charging an extra $5 per ticket for events at the proposed downtown arena could help cover the cost of building the facility.

Today's report is the first regarding the controversial issue - now budgeted at $400 million to $450 million. The suggested surcharge would cover about one quarter of the budget, the rest would come from a tax levy on surrounding development, other levels of government, seat licenses and the $100 million pledged by Oilers owner Daryl Katz.

City Council will meet with Katz Group officials Wednesday to discuss the proposed project. Council members are still waiting for a formal proposal from the company, before they can decide to support the new arena.