- Paid underground Event District parking;$35.00 per event
- 2-minute indoor walk
- Ice District Central Parkade / Grand Villa Casino Parkade
- Parking Panda reserved spaces ahead of events; $12.00 - $30.00 per event
- 5-minute outdoor walk
- Edmonton Tower Parkade, Epcor Tower Parkade, Bell Tower Parkade, MNP Tower Parkade, Canadian Western Bank Parkade, 102nd Street Parkade, Commerce Place Parkade
- Option #1 - $4M Renovation – approx. 1% on 2020 tax base = $2.50/month or $30/year.
- Option #2 - $55M Renovation – approx. 3% on 2020 tax base = $7.60/month or $91/year.
- Year 1: $2,537,781.21
- Year 2: $2,583,926.20
- Year 3:$2,643,193.77
- Year 1:$3,919,272
- Year 2:$3,834,876
- Year 3: $3,758,518
- Year 1: $1,956,551.28
- Year 2: $2,087,093.09
- Year 3: $2,222,718.57
- CKC (includes land, ELC building, Coca-Cola Center, Site Work, Westfield Grandstands) = $46.8M
- Service Centre renovations and expansions = $13.1M
- Downtown Rehab & Street Upgrades – Phase 3 = $9.7M
- 3rd Firehall = $5.9M
How many parking spaces are available at the facility and how does this compare to similar venues?
Revolution Place (5000 seats) has 1,036 public parking spaces within 400 meters of the venue; 481 of these spaces are located at the Revolution Place.
The 400 meter measure is used as this represents the “pedestrian shed” or the distance people are willing to walk before opting to drive. Based on the average walking speed, a five-minute walk is represented by a radius measuring ¼ of a mile or about 400 meters.
The Canalta Centre in Medicine Hat (6,500 seats) features 1,300 public parking spaces within a five-minute walk; approximately 1,100 of these stalls are located on-site.
The Enmax Centre in Lethbridge (5,900 seats) has 1,610 public parking spaces at the venue.
Rogers Place (18,500 seats) in Edmonton has the following options:
What is the current site size?
The building site is 10561.35 m2 or 2.6 acres.
The parking lots are 19789.356 m2 or 4.9 acres.
The total site including the building and parking lots measures 7.5 acres.
What is the recommended amortization and debt servicing strategy?
Both the amortization and debt servicing options are considered “betterments” and will be amortized over the remaining useful life of the existing asset.
There are 23 years remaining of estimated useful life for Revolution Place. Debt should not exceed the remaining useful life of an asset and therefore the recommended debt servicing period would be a maximum of 20 years.
Option #1 - $4M – annual payments of $243,000
Option #2 - $55M – annual payments of $3.34M
How much will the cost be per average taxpayer?
Based on the 2020 budget – the average household pays $253/month in municipal taxes.
A potential increase based on the estimated municipal contributions to this project would equate to:
What are the projected financials of the project including operating costs, municipal contributions and revenue projections?
For a large scale renovations the financials are projected as follows post-renovation:
Annual Municipal Contribution (includes debt services, operating costs, net of revenue projections)
What is the City's current debt load?
The total outstanding principal (does not include interest) of the City's debt load at Q3, 2020 is $126,564,149.
Larger outstanding balances include:
What is the cost of making this a decision point in the upcoming election process?
Referendum questions added to a Municipal Election ballot will result in very minimal cost increase - it entails including/adding the question on the ballot before we send it for printing. Minimal increase in printing costs will occur (less than $500.00). All costs associated with the City's electronic vote tabulators are already budgeted for - no increase will occur due to tabulation of votes on a question.
What impact will there be on users during the renovations?
There is potential that the Storm, Grande Prairie Minor Hockey Association, senior hockey leagues and other local events could be displaced for the duration of the renovations. Details are dependent on the construction timing and phasing. The goal would be to have limited impact to our users, while getting the project completely in a timely fashion.