Stadium announcement possible next week

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This article was published 09/12/2010 (5801 days ago), so information in it may no longer be current.

The proposed deal to complete a new football stadium in Winnipeg may be announced next week.

Premier Greg Selinger confirmed to reporters on Thursday that an announcement on a stadium deal “may not occur tomorrow (Friday).”

He said all the parties are “still working on a pre-Christmas solution.” He later added that it’s still hoped a deal can be in place before city council’s Dec. 15 meeting.

“People feel they’re getting very close to a consensus approach on this, but the final time for doing it (an announcement) has not been confirmed yet. So it may not occur tomorrow.”

Asked if there was a particular issue holding up a deal, Selinger said: “I think it’s just coming together on the final details. We want a guaranteed maximum price. That’s been one of the important features of it. I believe we’re very close on that. And that allows people to have greater certainty of what the costs will be and finalizing all the details relating to that.”

Asked if anything has changed since Bombers chairman Bill Watchorn announced an announcement would be made Friday, Selinger said:

“Everybody is anxious to move it (the project) forward but the reality is is that everybody has to be brought in the loop on this and brought up to speed. And if that requires an extra day or two, so be it.”

The city, province, Winnipeg Football Club, the University of Manitoba and private construction firms are working on a plan to complete a 33,000-seat football stadium that will cost at least $190 million.

Representatives from several of the parties say they need more time to work out some outstanding issues, such as the guaranteed maximum price for the project and the viability of the Winnipeg Football Club’s business plan.

The proposed deal would see the province contribute $15 million in the form of a grant and the city provide approximately $7 million, according to sources familiar with the discussions. The province would provide financing for the rest of the construction of a stadium that is supposed to include all amenities promised to the public earlier this year.

Creswin Properties is expected to exit from the deal, with the Winnipeg Football Club stepping in as project manager. The city would sell the existing Canad Inns Stadium site to allow a new development – ideally a mix of residential and commercial buildings – to rise on the site.

New city and provincial property taxes would be used to repay part of the provincial loan, with the football club responsible for $70 million over several decades.

The specifics of the deal may be announced next week, if all of the parties involved agree to the plan.