Group makes ‘very credible’ pitch for Halifax CFL franchise

[jerrym]

Major questions remain about the financing of a stadium in Halifax. As far as I can see it doesn't add up for the taxpayer.

A football franchise and stadium is a step closer to reality, but serious questions remain about the financial risk involved for the municipality. Halifax regional council voted unanimously in favour of a staff report on a business case analysis of the stadium proposal on Tuesday. The motion passed will also see municipal staff work with the provincial government on a long list of necessary legislative amendments and potential funding sources. It also means the proponents, Maritime Football Limited Partnership (MFLP), will start consulting the public on their plans for a 24,000-seat stadium in Shannon Park in Dartmouth to host a CFL expansion team for the 2021 season. ...
Building the stadium would cost between $170 million and $190 million, but it’s still unclear who’s footing that bill.

LeBlanc said MFLP would take on the operational risk of the stadium, meaning the ongoing costs once it’s built. He pegged those at $3 million annually or more. “We plan on being the sole group at risk in regard to the operations of the facility,” he said.
The financing risk, not so much. “I didn’t say we’d take on the risk,” he said. “We would take on the operational risk. We were very clear we would take on the operational risk. That’s not the financing risk. We said we would take on the operational risk.”
LeBlanc wouldn’t say whether MFLP would borrow the money. “The conversation about how the money will flow, who will sign up for it, those are to be determined. We don’t have answers for that for you right now,” he said.

He wouldn’t say whether MFLP would need either the municipal or provincial government to guarantee the loan. “We would need government involved at the table in some fashion in regards to how the loan structure is put together. I don’t have an answer for you on that,” he said. And LeBlanc wouldn’t say whether MFLP would need to borrow the money at the province’s financing rates. “I don’t have an answer for you on the specifics of the financing.”
LeBlanc said MFLP is willing to contribute to the capital funding, but “those are ongoing discussions, so the last thing I would do is tip my hat at this point in regards to what we would be contributing.” The key question now, according to LeBlanc is, “What is the acceptable risk level from each level involved, including ourselves?”

During Tuesday’s council meeting, chief administrative office Jacques Dubé told councillors that the municipality wouldn’t own the stadium or the debt. In fact, he said Halifax wouldn’t be taking on any financial risk. “We’re not looking to take construction risk. We’re not looking to take financial risk on the project,” he said. Dubé’s plan to pay for the stadium is a controversial financing model called Tax Increment Financing (TIF). The municipality would create a TIF district around the stadium, and the property taxes from the commercial development planned in that area would ostensibly pay for the debt financing costs — $9 million to $10 million annually.

It’s a similar model to one used for the Nova Centre in downtown Halifax, where council planned to pay for its share of the convention centre using the property taxes from the project as a whole. That’s not working out, but Dubé said it’ll be different this time. Dubé said he believes the TIF would bring in between $5 million and $6 million annually. To make up the remaining $4 million to $5 million, the municipality would ask the province to create a new car rental tax and increase the existing hotel marketing levy. That would require legislative change from the provincial government, as would the TIF plan, and the expedited planning process to get the stadium built.

Mayor Mike Savage said the math didn’t add up for him, but he wants more information.

http://3downnation.com/2018/10/31/fi...dium-proposal/

[jerrym]

A University of Manitoba professor is warning of the financial risks for Halifax in building a new stadium.

Halifax council will consider today a new report on a proposed 24,000-seat stadium, the pivotal component of a bid to land a Canadian Football League team for the East Coast’s largest city. But Jino Distasio, director of the Institute of Urban Studies at the University of Winnipeg, pointed to controversy in Winnipeg over the Investors Group Field stadium.
Earlier this year, the University of Manitoba said it will likely not recover more than $100 million owed from a loan to build the project, leaving the province to cover the shortfall.

“The outcome here is still mixed,” Distasio said of Winnipeg’s stadium. “I think the vast majority of people still appreciate that we have a wonderful new stadium but it has come with a price tag that we weren’t necessarily prepared for from the beginning. Careful financial planning and oversight is absolutely critical.”
Distasio says large projects like stadiums are often polarizing. “They draw a tremendous amount of public interest and often that interest can be polarizing with either very big supporters or those who are vehemently against any kind of public dollars flowing into what’s seen as the pockets of rich and wealthy owners,” he said. ...

An urban planning expert says the discussion is bound to be polarizing for the community, with costly stadium projects often generating vigorous public debate....

The new football team would be the anchor tenant of the stadium, which comes with an estimated price tag of up to $190 million. However, some of that cost is expected to be covered by public dollars, with the city staff report calling the province’s participation as a funding partner “essential.”
The report recommends a thorough review of Maritime Football’s business case, as well as changes to the city’s charter to potentially allow for a special tax arrangement and assist with debt financing of the project, pending the outcome of the business case analysis. The report also recommends engaging with the province on “new and incremental sources of revenue,” such as increasing the hotel marketing levy or creating a new car rental tax.

http://3downnation.com/2018/10/30/st...hailfax-risks/

[doubleblue]

The Federal Government wastes more money than $190,000,000 on just about every program you can shake a stick at. So what's another 200 million on top of the 20 billion a year or whatever the debt is now. At least it would be something for Canadians for a change.

[R.J]

The Federal Government wastes more money than $190,000,000 on just about every program you can shake a stick at. So what's another 200 million on top of the 20 billion a year or whatever the debt is now. At least it would be something for Canadians for a change.

Trudeau's Liberals love to spend money foolishly and put Canadian's into more debt, so worth the phone call, but the taxpayers shouldn't always be on the hook for these things IMO.

[OV Argo]

Trudeau's Liberals love to spend money foolishly and put Canadian's into more debt, so worth the phone call, but the taxpayers shouldn't always be on the hook for these things IMO.

And if Stevie-boy Harper had been a big Canadian football fan, rather than a typical hockey groupie, a Fed funded football stadium for Atlantic Canada would have been rationalized easily by his types.

[R.J]

And if Stevie-boy Harper had been a big Canadian football fan, rather than a typical hockey groupie, a Fed funded football stadium for Atlantic Canada would have been rationalized easily by his types.

Can you name one hockey arena funded by the Harper Government ?

[doubleblue]

And if Stevie-boy Harper had been a big Canadian football fan, rather than a typical hockey groupie, a Fed funded football stadium for Atlantic Canada would have been rationalized easily by his types.

Harper was at just about every Ottawa RB's game when he was in Town as far as I know. He always seemed to be afraid of the Media jumping all over him if any Federal money went to pro sports. Halifax had their chance for some Fed and Provincial money when they were awarded the Pan-AM games. The City backed out and the Games went to Hamilton.

[R.J]

Harper was at just about every Ottawa RB's game when he was in Town as far as I know. He always seemed to be afraid of the Media jumping all over him if any Federal money went to pro sports. Halifax had their chance for some Fed and Provincial money when they were awarded the Pan-AM games. The City backed out and the Games went to Hamilton.

Commonwealth Games.

[R.J]

Maritime Football Ltd will have a Press Conference tomorrow with Randy Ambrosie in tow. There's been talk of announcing a Conditional Franchise being awarded, starting a season ticket drive, a name the team contest, and some tidbits about the potential stadium.

[OV Argo]

Can you name one hockey arena funded by the Harper Government ?

MTS Centre - Winnipeg - had funding from all 3 levels of government.

[R.J]

MTS Centre - Winnipeg - had funding from all 3 levels of government.

May want to check the timeline on that. The arena was finished in November 2004; Harper only became Leader of the Opposition in March 2004, and only became PM in February 2006. So, that means it was approved and funded by the Chrétien and Martin Liberal Government.

So I'll ask again, can you name one arena that had funding from the Harper Government ?

[OV Argo]

May want to check the timeline on that. The arena was finished in November 2004; Harper only became Leader of the Opposition in March 2004, and only became PM in February 2006. So, that means it was approved and funded by the Chrétien and Martin Liberal Government.

So I'll ask again, can you name one arena that had funding from the Harper Government ?

Stevie-boy and his cronies were seriously considering funding the new Quebec City arena - till he got wind that public opinion on the issue might hurt him in future elections; guaranteed if public sentiment were the other way around, they would have poured money there. It has nothing to do with public good or the value of funding a facility that could benefit many locals or Canadians in general. It's all about bottom line B$ (while they let their buddies in the Banks & Big Oil continue to get away with murder and gouge average Canadians) and winning elections to those types.

Some Federal funding for a stadium for Atlantic Canada - that could host so many events & activites and not just a CFL team ? - OMG, no, we could never do that; er, cause we spend fund$ on so many other worthwhile projects and we have to let the "market", gouge, er, rule.

[R.J]

I'm pulling myself out of the vortex, so back to the thread topic.

Special announcement Wednesday from Maritime Football and CFL commissioner https://t.co/cJDqFfHzbR via @HalifaxToday #CFL #Halifax

— CFL News (@CFL_News) November 6, 2018

[R.J]

Maritime Football Limited Partnership announces season ticket drive ($50 deposit), could play in Moncton for a year in 2020, hoping to play in Halifax in 2021, and short list of team names.
- Atlantic Admirals
- Atlantic Storm
- Atlantic Schooners
- Atlantic Convoy

My guess is it'll be the Schooners, but Convoy or Admirals isn't too bad.

The Press Conference for anyone interested:
https://www.youtube.com/watch?time_c...v=TAYhpvNZNXwl

[matthew]

Not a inspiring look to have conference in a pool lobby.

[Will]

Maritime Football Limited Partnership announces season ticket drive ($50 deposit), could play in Moncton for a year in 2020, hoping to play in Halifax in 2021, and short list of team names.
- Atlantic Admirals
- Atlantic Storm
- Atlantic Schooners
- Atlantic Convoy

My guess is it'll be the Schooners, but Convoy or Admirals isn't too bad.

The Press Conference for anyone interested:
https://twitter.com/MaritimeFtball

Not a fan of the Convoy name.

[shayman]

Maritime Football Limited Partnership announces season ticket drive ($50 deposit), could play in Moncton for a year in 2020, hoping to play in Halifax in 2021, and short list of team names.
- Atlantic Admirals
- Atlantic Storm
- Atlantic Schooners
- Atlantic Convoy

My guess is it'll be the Schooners, but Convoy or Admirals isn't too bad.

The Press Conference for anyone interested:
https://www.youtube.com/watch?time_c...v=TAYhpvNZNXwl

Atlantic Schooners is the only one that's been trademarked - Maritime Football trademarked it a year ago. I would be very surprised if one of the others is a winner. You'd think they'd trademark all the choices ahead of time, just in case - but they've only trademarked one.

[R.J]

Not a fan of the Convoy name.

Out of the four, "Admirals" is my favourite. I just hope they wouldn't copy the Milwaukee Admirals colour scheme lol. (Just an FYI, Milwaukee has a similar colour scheme to the Argos).

I also noticed they changed the colour of the Maritime Football logo. Previously it was black and white; maybe a hint ?



Also worth noting that the name the team contest is open for those who put up the deposit money, and there is an "other" option.

[R.J]

Not a fan of the Convoy name.

Yeah, on second thought Convoy is a terrible name.

Someone tweeted out Whalers... I miss that logo lol.

[jerrym]

Maritime Football Limited and Randy Ambrosie announced the start of their ticket drive today.

Available for purchase now, season ticket deposits are $50.00 per package and the deposit will place fans on a priority list for season ticket membership and seat selection on a first come, first served basis. ...

In addition, individuals who make a deposit for season tickets will be eligible to participate in a name the team contest. Participants will be asked to vote on name options, as well as submit their own preferred name. The team name will be announced at a special event during Grey Cup weekend later this month. ...

Ticket prices will be announced well in advance of the club’s inaugural season. Partners aim to have players on the field as early as 2020.

https://www.cfl.ca/2018/11/07/mariti...otential-team/