Jan 29, 2013, 1:55 PM EDT
Markham city councilors are expected to vote tonight on whether to continue with plans to build a 20,000-seat arena that would see the Toronto suburb take out a $325-million to fund construction of the NHL-caliber rink.
Under the controversial proposal, billionaire developer Rudy Bratty (fronted by former Bauer CEO Graeme Roustan) would pay back half the $325 million of the debt, plus interest. The other half would come from residential developers via a levy on new homes.
Should the plan go ahead, there’s no guarantee an NHL team will follow. And that has councilor Valerie Burke concerned.
“It is a big vision,” Burke told the National Post. “But, fundamentally, we were elected by the residents. And we all said in our campaigns that we were going to listen to the residents. And it’s very, very clear that the residents are extremely worried that we could be facing the fallout and a white elephant.
“That’s why we’re there: To listen to the residents. And I don’t have any trouble with this, because I can tell you as a Markham resident myself, it does really worry me that we could be faced with a financial disaster.”
Meanwhile, in Glendale…
- Video: Burrows catches Emelin with a late hit (Updated) 5
- Report: Thomas Vanek involved in money laundering scandal 19
- Video: Devils (finally) win a shootout 4
- Video: Lucic and Stewart drop the gloves 20
- Blues lose Backes, Oshie indefinitely to concussions 5
- Struggling Coyotes ‘not anywhere good enough,’ says GM 9
- Red Wings take over third period, blank Ovechkin in win 8
- Video: Doc Emrick’s heartfelt words about Gordie Howe 5
- Rangers’ Moore suspended five games for ‘extremely difficult’ Haula hit 18
- Ovechkin looking to avoid career-long scoring slump tonight 11
- Video: John Moore with an elbow to the head of Erik Haula (Updated) (62)
- Report: Varlamov being sued by ex-girlfriend (47)
- Kreider calls Brodin hit a ‘bang-bang play,’ doesn’t plan to dramatically change his game (45)
- No hearing scheduled for Kreider after Brodin hit (44)
- Kopitar out, Lombardi irate as Kings will play shorthanded vs. Flyers (40)