Toronto Star

Taxpayers won’t have to pay for Markham arena construction, proponents say
Toronto Star

No taxpayer dollars will be used in the construction of a controversial hockey arena in Markham under a new proposed funding agreement, according to the city’s mayor and a businessman leading the charge for the 20,000-seat facility.

Markham Mayor Frank Scarpitti and Graeme Roustan, CEO of GTA Sports and Entertainment, announced on Saturday two memorandums of understanding as part of a public-private partnership that would leave taxpayers off the hook in the proposed building of the $325-million NHL-size GTA Centre.

“One hundred per cent of the dollars to construct the GTA Centre is coming from the private sector,” Roustan told reporters. “We are not asking for a cheque from the taxpayers. We are asking for a great partnership with the City of Markham.”

While the city would own the completed arena, a U.S.-based company called Global Spectrum would assume operations and has said it would cover any operating losses.

L’aréna de Markham va coûter 325 millions pour 20 000 places. L’aréna de Québec va coûter 400 millions pour 18 500 places.

L’aréna de Markham sera financé à 100% par le secteur privé. L’aréna de Québec sera financé à 0% par le secteur privé.

Ce n’est pas un hasard si le Québec est devenu si pauvre…