Comment 54670

By CaptainKirk (anonymous) | Posted January 05, 2011 at 22:25:45

Burlington share of stadium cost: $0

From http://www.thespec.com/news/local/article/309442--burlington-share-of-stadium-cost-0



A Burlington Pan Am Stadium consortium has proposed a $90 to $120 million stadium for Aldershot that would not require a municipal contriwbution from the City of Burlington.

That was the offer Tiger-Cat president Scott Mitchell and consortium partner Angelo Paletta made to Burlington Mayor Rick Goldring in a 90-minute private meeting Wednesday.

“I think we tried to provide a solution that mitigates any financial risk or obligations to the City of Burlington,” Mitchell said following the meeting.

Mitchell said as part of the deal, the private consortium would manage and operate the 22,000 seat stadium for the municipality.

“We have tried to give them a compelling business case,” he said. “What we are proposing involves no financial contribution from the City of Burlington.”

“We have tried to give them a compelling business case that will result in tens of millions in revenue for the city and region.”

And Burlington appears ready to play ball.

“How can we not look at this?” Goldring said afterwards. “They have come with an offer we can’t refuse to look at.”

Goldring briefed his council after the meeting and believes he has sufficient support to have city staff explore the stadium offer. And he said that if resolution to do that passes, he will be on the telephone to Pan Am organizers and the province to seek an extension to the Feb. 1 deadline for a site selection.

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