The first $39 million of arena infrastructure funding has been earmarked by the Alberta government
By Ryan Pike19 days ago
The Government of Alberta provided their first quarter financial update for the 2023-24 fiscal year on Thursday, with finance minister Nate Horner providing a presentation and then taking questions from members of the media.
Among the topics Horner was asked about: the provincial government’s funding commitment to the new Calgary arena’s surrounding infrastructure.
Horner was asked by the CBC’s Jason Markusoff about $39 million mentioned in the update report for Rivers District infrastructure:
“I believe it’s 39 million and change in new capital grants under transportation for site prep and land acquisition, I believe around the underpass or the Rivers District new infrastructure overall. That’s the only number you’ll find in this report regarding the Rivers District monies. We’ve had a discussion at Treasury Board but that’s all I can give you at this time. I think the premier will probably speak to it shortly.”
The province pledged $330 million as part of the agreement in principle to construct a new arena, with the contribution intended to cover $28.7 million of public realm improvements on the arena block, $26.4 million of the community rink, and $274.9 million in district-wide infrastructure improvements, primarily roadway upgrades such as the 6th Street SE underpass. (It was emphasized throughout the announcement of the deal that provincial money isn’t going into the new building itself, just a bunch of stuff around to and related to the building.)
The full amount of pledged provincial funds can’t be considered locked in until the provincial cabinet and Treasury Board formally approve it – as is the process for all budget commitments. But this is a start. We should be hearing additional updates regarding the remaining provincial funds and the execution of definitive legal agreements in the coming weeks and months.
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