The proposed CalgaryNEXT concept calls for a multi-use facility that would include a 20,000-seat arena and event centre for hockey games and concerts and a multi-purpose fieldhouse/stadium that would incorporate into its design: a International Federation of Association Football (FIFA) sized soccer field, a 400-metre indoor running track, and a Canadian Football League (CFL) sized football field with seating for 30,000+. The project proposes to replace the Scotiabank Saddledome and McMahon Stadium.
CSEC estimated that the proposed CalgaryNEXT concept would cost $890 million for the building, of which CSEC committed $200 million. The proposed funding formula would require a commitment by The City of Calgary totalling $690 million: $250 million loan to be repaid by a ticket tax, $240 million in the form of a Community Revitalization Levy (CRL), and $200 million from The City’s capital budget to fund the fieldhouse.
The formula does not include the costs of the land, the remediation of contaminated land in the West Village, required project and community infrastructure, any required improvements to the adjacent road, transit and river pathway networks, and the terms and conditions for use of the facility.
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