Kukla's Korner Hockey
Entries with the tag: gta sports and entertainment
Even as the NHL is keeping its eye on a proposed Arena in Seattle, a group that has been pushing for an Arena in Markham, Ontario (just North of Toronto) has come forward with a new financing proposal that they hope will breath new life into their plan for a new 20,000 seat rink in the GTA.
Markham, ON, September 17, 2013 — GTA Sports & Entertainment announced today a new option for the financial framework for the proposed GTA Centre. This new option proposes that GTA Centre, LP would be responsible for funding all costs towards the construction of the GTA Centre above a maximum amount of $162.5 million, which the City of Markham would facilitate through receiving private sector developer contributions.
As a result of this new option for the financial framework, the City of Markham would no longer need to borrow $325 million — as in the original financial framework option that was approved by an 11-2 vote by City Council in April 2012 — and the GTA Centre would be 100% privately funded.
Two leading investment banking firms, Wall Street firm Jefferies LLC and Bay Street firm Canaccord Genuity have joined the GTA Centre team to support this new option.