The City of Markham has created quite a buzz with its vision of a $325 million, NHL-sized, 20,000-seat arena. The Markham Sports, Entertainment and Cultural Centre is proposed to be built in the heart of Markham’s emerging downtown. The complex could bring with it many big names and potentially house the GTA’s second NHL team.

There have been many public meetings and open houses on this hot topic, and most of the discussion has revolved around a proposed financial framework. It is important to understand that the city has not entered into any contracts and is only studying a proposal.

This financial framework is one of the first steps necessary for the parties involved to work out details that would become part of a memorandum of understanding.

Under this financial framework, the city would borrow and invest $162.5 million and own the facility. The debt would be financed through centre revenues, ticket surcharges, parking fees and special development levies. The other half would come from the GTA Centre Limited Partnership, a private partnership chaired by Graeme Roustan, former chairman of Bauer Performance Sports, Ltd.

Some residents feel this project is a great addition to Markham but have concerns with the financial framework and potential risk to taxpayers.

More information can be found at www.markham.ca.

What is your opinion? Is this the right vision for the city of Markham? As your Thornhill councillor, I am always available to answer your inquiries at 905-479-7747 or at vburke@markham.ca.