Expert weighs in on prospect of new arena in the city\u0027s downtown core.
Speaking in a hall in TCU Place overlooking the parking lot across from the Midtown Plaza shopping centre that has been selected as the site for a prospective new arena, Rosentraub said the entertainment industry’s demands for state-of-the-art facilities capable of supporting ever grander shows have continued driving arena design and planning.
Rosentraub said this effectively means a facility has to be built in anticipation of what the sports and entertainment business is likely to need a decade from now. Rosentraub previously represented the City of Edmonton in negotiations with the Oilers NHL franchise before the Ice District development.
Rosentraub said this means that, effectively, the people who live, work and play in the district have paid for it – not Edmonton property taxpayers at large. In his remarks, and during a brief question period after his presentation, he said he favours what’s known as tax increment financing as a tool for developing an arena district.
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