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Edmonton City Council and Katz Group move forward on new downtown arena - MasterMaq.ca Blog
Today was the latest episode in the downtown arena saga and it was a weird one. Council received an update from Administration on negotiations with the Katz Group and ultimately voted 10-3 to move forward with an altered deal, though one that still closely resembles the framework that was approved in October 2011. Today is being called a "landmark" day for Edmonton, and supporters of the arena are understandably happy that the project is moving ahead, even though they may not be entirely sure why. Let's start with what's new. The price of the arena has gone up $30 million to $480 million, and that pushes the total cost of the project (including the community rink, land, and other elements) to more than $600 million. The other changes include: The additional $30-million for the arena over the previous framework will be split between the City and the Katz Group The LRT connection, solely funded by the City, has been reduced from $17-million to $7-million Katz Group will pay for the