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Time to Rethink that new Dome for your Favorite Sports Team?
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<blockquote data-quote="pickup" data-source="post: 768390"><p>This is an excerpt about the Palladium where the Ottawa Senators play:. I can see that the government gave a private entity 6 million dollars to build this thing and a loan guarantee for part of the project from the government as well.</p><p></p><p>The two year period was used seeking financing for the site and interchange by Terrace Corporation. The corporation received a $6 million grant from the federal government, but needed to borrow to pay for the rest of the costs of construction. On August 17, 1993, Bruce Firestone, the Senators owner, was replaced by Rod Bryden, a former high tech tycoon, who assumed control of Terrace Corporation. Bryden managed to borrow enough to pay for the $188 million project[2] through a consortium of U.S. banks and Ogden Entertainment, but could not find financing for the highway interchange. Only after the provincial government provided a loan guarantee for the highway interchange financing did construction proceed.</p></blockquote><p></p>
[QUOTE="pickup, post: 768390"] This is an excerpt about the Palladium where the Ottawa Senators play:. I can see that the government gave a private entity 6 million dollars to build this thing and a loan guarantee for part of the project from the government as well. The two year period was used seeking financing for the site and interchange by Terrace Corporation. The corporation received a $6 million grant from the federal government, but needed to borrow to pay for the rest of the costs of construction. On August 17, 1993, Bruce Firestone, the Senators owner, was replaced by Rod Bryden, a former high tech tycoon, who assumed control of Terrace Corporation. Bryden managed to borrow enough to pay for the $188 million project[2] through a consortium of U.S. banks and Ogden Entertainment, but could not find financing for the highway interchange. Only after the provincial government provided a loan guarantee for the highway interchange financing did construction proceed. [/QUOTE]
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Time to Rethink that new Dome for your Favorite Sports Team?
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