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:
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: