The city of Regina has filled in the missing $138 million in its $278 million Saskatchewan Roughriders stadium plan, signing a memorandum of understanding to build the stadium by 2017. The new funding plan:
- The previously announced $80 million grant from the province of Saskatchewan.
- $73 million in cash from Regina, up from the previously announced $60 million.
- A $100 million provincial loan from the city, to be paid back by a $12 per ticket fee on all events at the new stadium.
- $25 million from the Roughriders.
That means that the public would be on the hook for more than 50% of the stadium cost, plus taking on the risk on that $100 million if ticket sales fall short of projections. Plus paying $230 million in operating costs on the stadium over the next 30 years. Most of this would be paid off from property tax revenues, though there’s also an $80 million chunk that’s summed up merely as “other revenue.”
The plan still needs to be signed off on by the Regina city council.