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Markham NHL arena was on thin ice from the beginning, newly released documents show

2015-10-29 02:39:39| Apparel - Topix.net

Markham's NHL arena dream was premised on a financial plan that was high risk, would not garner an “adequate return” and could have cost taxpayers tens of millions dollars more than the city publicly claimed, according to five of the 13 reports the city has been ordered to release, two years after the project was cancelled. The reports, released as a result of an appeal to the Information and Privacy Commission of Ontario, filed by Councillor Karen Rea before she took office in 2014, depicts the $325-million public-private arena plan as one that would have mired the municipality in debt for decades to come.

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