06 — City funding
The city's funding commitment
In short: the city's total commitment is $395M over 20 years: $120M toward the renovation, plus up to $275M for eligible arena projects over the following 20 years.
That $395M comes in two very different pieces: an upfront contribution toward the renovation and ongoing funding over the next 20 years. Here's the breakdown, and how it compares with the city's estimated costs under the other scenarios (full comparison on the Long-Term Costs page).
$120M: the city's contribution toward the $573M renovation, expected to be spent between now and 2030.
Up to $275M: funding for eligible arena projects over the following 20 years, primarily from ticket fees, parking revenue and other revenue in the city's Spectator Venues and Visitor Activities Fund.
Because the city already owns the building, it faces costs under any scenario. The $395M is the city's proposed 20-year commitment under the term sheet; the Long-Term Costs page compares that with the city's estimated costs if the renovation doesn't happen.