The Event Centre Agreement In Perspective

Some of the claims and graphics circulating have removed a great deal of context from the discussion surrounding the Event Centre. The April 2023 agreement-in-principle includes critical infrastructure for the Rivers District, mobility improvements, a community rink, and site clearing/demolition costs. 

The provincial government offered $330 million in funding to The City of Calgary within this agreement. This opened an opportunity for the City to complete our commitments in the Rivers District. The Province was not a partner in the 2021 Event Centre negotiations. 

The April 2023 Event Centre Agreement: The Numbers

The City is investing $537.3 million to fund the development of the Event Centre, parking structure, the enclosed plaza, and 25% of the community rink.

CSEC is contributing:

• $40 million upfront and $17 million per year (increasing 1% per year) over 35 years to offset Event Centre costs, parking, the enclosed plaza, and 25% of the community rink.
  • This amounts to $750+ million over the 35-year term.
• $1.5 million per year to community sports
  • This amounts to $52.5 million over the 35-year term.

The Province of Alberta:

• $330 million
  • $300 to fund transportation improvements, land, infrastructure and site enabling costs, including off-site and on-site utility servicing costs, public realm, and site clearing/demolition
  • $30 million to fund 50% of the community rink

Calgary Stampede:

• Agreed to land sales and transfers that will allow for the development of the Event Centre and enable a vibrant entertainment district surrounding the Event Centre.

Comparing the old deal and the new deal for Calgary

Previous Event Centre negotiations had led to an application for a development permit. Costs for the project had increased from $550 million to $608.5 million by July 2021, to an estimated $630 million by December 2021. The City’s agreed-upon contribution was $297.5 million. In December 2021, an agreement between the City of Calgary and CSEC collapsed. 

The necessary enabling infrastructure improvements around the Event Centre were the City’s responsibility. These were committed to in the 2021 agreement between the City and CSEC. For example, a pedestrian, wheeling and vehicle underpass was a commitment made by the City, but the associated costs and funding sources were not discussed.

To compare the cost sharing between the 2021 and 2023 agreements, we can adjust for inflation and include the costs of the Rivers District infrastructure that were not accounted for in the 2021 agreement:

The cost-sharing scenarios for both agreements can be better understood if the infrastructure and mobility costs are separated from the Event Centre itself:

The 2021 Event Centre deal did not include sufficient benefits to the community or the City for the agreement to make sense. The City was committed to half of a smaller Event Centre complex, plus the infrastructure, with no community rink, and more parking lots.

This agreement represents a generational investment in our city that will create a place where both Calgarians and visitors can make lifelong memories. The improvements in the area will include:

• Community Rink: New shared facility for public booking and training facility for CSEC’s professional teams.
• Outdoor and indoor gathering spaces: More opportunity for community events onsite and in Rivers District.
• Event Centre: New City-owned building capable of hosting more events.
• New transportation connections: 6 Street underpass and improvements to 5 Street S.E and 15, 17 and 25 Avenues S.E.

City Administration will begin formal discussions on definitive agreements with all parties, which is expected to be underway through spring and summer 2023.

For more information, please visit: Event Centre (calgary.ca) and consult the Frequently Asked Questions.

Calgary City Council sent a list of funding recommendations to the Government of Alberta in advance of this year's budget. The Event Centre was not listed. 

While it is obvious that the timing of this funding offer was announced with political intent on behalf of the current provincial government, I believe that Calgarians value healthcare, education, and affordability in this upcoming election. I urge Calgarians to think carefully and critically about the political vision their provincial candidates have to offer.