City and Katz Group agree on downtown arena

The City and the Katz Group have approved an agreement framework to build a new downtown arena in Edmonton. While the two organizations still need to develop and agree on a final Master Agreement, this marks a crucial next step.

The agreed-upon terms reflect what the City has heard from residents in Edmonton, and substantially meet Council’s conditions from April. The framework puts a cap on the building cost, identifies that the City will own the building and land and guarantees that the Edmonton Oilers will stay in Edmonton for at least 35 years.

The agreement framework includes:

  • The price for the  arena building is set at $450M
  • The City’s contribution to the building is $125M
  • The Katz Group will contribute $100M
  • $125M will come from a user-pay facility fee
  • The City will own the building and land
  • The Katz Group will operate the building and be responsible for all maintenance, upgrades, operating and capital expense costs

So, what’s next in the Arena saga?

Next up will be the negotiation of a final Master Agreement between the City and the Katz Group. This agreement will more clearly define the obligations and responsibilities of each partner and will advance the project to the next stage. Also next – design of the project will start, including discussions with Edmontonians.

For more information on the downtown arena project visit:
http://www.edmonton.ca/downtownarena

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About the Author
Christopher Webster
Christopher Webster is a Communications Advisor with the Community Services Branch.
4 Comments
  1. MR. RANDY TYSON RATKE MR. R.T.R. .R.R.
    6 years ago

    GOOD JOB WELL NE SHOWING ALL OF THE VERY AND REALLY HARD

    EFFORT WORK INTO ALL OF THIS FOR A BIGGER BRAND NEW AREANA

    FACILITIY AT THIS APPROPRIATE TIME FRAME SCHEDULE TIME FRAME

    TIME.

  2. MR. RANDY TYSON RATKE MR. R.T.R. .R.R.
    6 years ago

    GOOD JOB WELL DONE GREAT JOB WELL DONE GOOD JOB WELL

    DONE GOOD JOB GREAT JOB EXCELLENT TERRIFIC WONDERFUL

    FINE WONDERFUL TERRIFIC JOB

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