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The City of Saskatoon will soon be searching for a private partner to help get the ball rolling on a proposed downtown arena.
On Wednesday, council unanimously approved a motion to look for a potential private partner that would help provide operations management of the proposed arena and surrounding entertainment district, and hopefully explore ways to secure more funding for the project.
“This is a critical piece. One of the biggest potential ways to get the downtown event and entertainment district done is to bring in a private partner,” said Mayor Charlie Clark.
“It’s very common in other cities and municipalities to help with the management of it and also to help fund the project. In some jurisdictions, we’ve seen private partners bring $100 (million) and $200 million into these types of projects. We’re looking for competitive bids.”
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Clark said the private partner would also look at ways to ensure the new arena and entertainment district benefits the community.
The mayor said working with private partners isn’t something that’s new to Saskatoon, but he noted that the arena is on a much larger scale than previous projects the city has worked on alongside partners.
“We actually have, in the current SaskTel Centre agreement, developed a partnership with the Sask Entertainment Group who own the Blades and Rush, and they’re sharing risk and helping to operate and manage the facility,” Clark explained.
“We’ve seen a very successful agreement with that. It’s something that’s not entirely new to our city, and I think we’ve proven that we can develop strong partnerships.”
The city has already spent millions to purchase land for the proposed arena.
Clark added that council will be listening to a lot of different parties about their interests and plans before selecting a partner.
The next big step for the arena project will come in February, as council members get their first glimpse at what the completed arena and event district could look like.
“There’s going to be a series of reports coming in February that will help to further flesh out what the design and options are for the district and to help really give us an understanding about what this could all become,” Clark said.
“In April, we hope that we’re going to have the funding plan to know how much can a private partner bring and what the costs are going to be – we know they’re going to be significant to do this – and then what options do we have to generate revenue so we don’t have to rely on property taxes?”
Clark added that while things are moving quickly, it’s still going to take a while for all the pieces to come together.
“There’s nothing that’s going to be going to tender for construction until we’ve secured all the revenue and there’s a detailed design that’s been done,” he said.
“This is at least two years down the road, if not longer. Our job is to plan and prepare and to make sure that we’re ready for when we have the funds to build a project like this.”
