Council gets answers to arena questions

Edmontonians now have a chance to review some new information about a proposed downtown arena project. The new report from the city addresses funding, development and revenues.

Following a presentation from the Katz Group back in July, councillors submitted over 140 questions for the Katz Group, Northlands and city administration.

Even after reading through the responses it remains unclear what role, if any, Northlands would have in a new arena. The current operators of Rexall Place insist they're the best ones to run a new building, but the Katz Group wants to take over operations.

Many of the questions council had for the Katz Group focused on the finances of the Edmonton Oilers. The Katz Group insists it needs to control both hockey and non-hockey revenues in a new building in order to sustain the team, but so far has been reluctant to open up their books to city officials.

Councillors are also looking for more clarification on how a new building would be funded. Daryl Katz has pledged $100 million to a new arena, and the city is looking at raising as much as $140 million through a community revitalization levy, but councillors want some assurances from the Katz Group that any investment the city makes would be safe. So far the Katz Group as failed to provide those assurances.

City council will address the new report next Friday. Northlands is expected to make a presentation that day as well.