Katz Group Comments on Status of Arena Negotiations (PDF)
An excerpt:
The challenge is that the City has not yet been able to resolve certain fundamental elements of the Agreement Framework. These include closing a $100 million funding gap and obtaining a non-compete agreement from Northlands, which we have always understood to be the City’s responsibility and without which the new arena is not economically viable. We are seeking fair and reasonable solutions to these issues so that we can continue to move this project forward.
We have great respect for the City’s process and its need to achieve an agreement that is fair for all concerned. But ultimately this is not just a debate over a funding model - it is a question of what kind of city Edmonton wants to become.
The message to the media was:
We enclose a statement regarding the arena negotiations. We will not be making any comment beyond this statement at this time.
