A $1.2-billion deal to replace Calgary’s aging Saddledome with a new National Hockey League arena could be finalized as early as this afternoon.
The City of Calgary, Alberta government, Calgary Sports and Entertainment Corp. and Calgary Stampede reached an agreement in principle in late April.
The price tag for the event centre project includes $800 million for the new arena in addition to parking, transit improvements, a new community rink and an enclosed plaza in the area.
Council’s event centre committee is meeting this morning and a news conference has been scheduled for this afternoon at Calgary City Hall with Premier Danielle Smith, Mayor Jyoti Gondek and other officials.
A city official has previously said that the agreement would come with a 35-year lease that includes a commitment from the owners of the Calgary Flames to stay in the city.
The Alberta government was not to contribute directly to the arena, but has said it plans to fund up to $300 million on public transit and road improvements, site utilities, reclamation and other supportive infrastructure as part of the deal.
The province has said it would contribute $30 million to cover half the cost of the 1,000-seat community rink if its share was approved by cabinet and the Treasury Board.
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