Then why not borrow from a bank? This looks like a game of chess between big government and big business.
Probably because since it's a city owned facility, the city stands to benefit from the renos, ergo they'll offer a lower rate of interest than a bank would.
I don't think the city is actually charging a running rate of interest....they earn a return because they keep receiving funds from the stadium even after the $10 million is repaid.....so, in effect, it is a deferred rate of return....no bank would lend them money on those terms.
The city is indeed charging interest as they will be repaid the $10 million plus an additional $4 million. Either way I shouldn't concern myself with the politics of it all. At the end of the day TFC will be in a stadium with a roof and more seating capacity.
Yes but it is not a running interest....they will be paid nothing during the construction then over time they will get $14 million back. A bank would charge interest during the development stage and while the money is out. There is a pretty significant difference in the cash-flow and it affects MLSE's IRR.
New renderings leaked for BMO renovation Per Toronto Sun - 3 canopies, 30,000 seats. http://m.torontosun.com/2014/09/02/exclusive-sun-obtains-renderings-of-bmo-field-upgrade
interesting that the sun is saying there is only cover on 3 sides...but it isn't clear if they are saying that because the rendering only shows 3 sides....as far as I know, all 4 sides are to be covered.
I think the Sun is spot on. Look at the rendering. The shorter canopy over the South Stand connects to the support connected to the a taller East stand. On the north end, the support has nothing connected to it. It's definitely 3 canopies.
There could be a totally separate/stand-alone roof over the north end....given how far set back those north stands are, and the fact that the food building is right behind it, I would not be surprised if it had to have a different config....of course it could be that they are not covering that end but that would seem strange to me.
If every side except ours is protected from the rain, pretty safe bet my wife is going to make me switch seats.
Never mind the three canopies, but the fact that MLSE is now planning to move the CN Tower and major office towers north of the stadium is quite a bold move. Either that, or the pitch is not oriented properly in that picture.
I originally thought th same thing (even typed a similar reply)......but the thing at the bottom of the pic that I thought was a net is actually a covered bench........the view here is from west to east and no one is moving the CN tower.
Nice music. Oh BTW, did you notice a bullet point description for the Tunnel Club? "Interact with the players as they take the field." I get the feeling that if they ever get blown out or continue foundering on the pitch, the interactions with the players might be like what we saw in Edmonton after the Oilers got shellacked over the weekend.
Merged Arte Et Labore's video thread with the old Renos to BMO thread. And yes, I haven't used my mod powers here in forever, felt good - thanks for asking.
Do you think that the small number of people who would be members of the tunnel club would cause a problem?
I just can't see a very small group of people who paid north of $120 a ticket + a $1300 annual club fee (that is the cost of the tunnel club membership) posing that much of a security risk.
So, you're saying that it wasn't a troll, Roc le Roc or a post about male enhancement pills that got you to exercise your mod power, but rather one of my posts?
Wow... that goes waaaaaaay back. So far back there was actually a shred of hope about TFC's chances when that guy was around.