Show Taxpayers The Money From Lansdowne
“I think this just underpins the report that is going forward for Lansdowne with respect to what the future looks like and making something that is sustainable,” city manager Wendy Stephanson said Wednesday. It really supports the new model that we’re putting in front of council. It really supports the new model that we’re putting in front of council.”
Ottawa city manager Wendy Stephanson
What is Stephanson talking about?
She was referencing hundreds of millions of dollars the city was expecting from revenue at Lansdowne.
What revenue?
If Lansdowne were making a certain amount of money in profits, the city would see $1.5 million a year to be put in a fund to repair municipal buildings at the park.
What’s so confusing about that? In fact, it’s worse. The city gave the $4.5 million in repair money back to Ottawa Sports and Entertainment Group because Covid had been tough on the municipality’s private partner.
The first Lansdowne (and at the time, Ottawans thought would be the only Lansdowne) entitled the city to $1.5 million a year to be put into a repair fund.
So the money Stephanson is referencing might be OSEG money or not. It’s not clear, much like the murky waterfall which didn’t exist. One thing certain, it wasn’t city revenue. The municipality didn’t get any from Lansdowne.
What gibberish is Stephanson talking about? She’s referencing a deal that was designed by the city and OSEG to produce no money for the municipality except for repair money that was given to OSEG. Who’s paying for upkeep of city facilities now?
So the non-existent waterfall is just there to confuse mere mortals. The city paid out money for capital projects at Lansdowne but got extremely little in return.
The waterfall was just there to occupy the baffled minds of councillors, journalists and citizens.
The first Lansdowne was designed to yield no money for the city (except for a small repair fund) and it succeeded in its goal. So it worked.
It was designed so that the city poured out hundreds of millions in capital funds to get no revenue.
Where is the money in Lansdowne 2.0? Some people have suggested the city might get $500,000 a year in rent for the arena and stadium. Yeah … and … For an outlay of two-thirds of a billion dollars?
In other words, show us the city revenue.
Show us the money.
“It really supports the new model that we’re putting in front of council,” Stephanson said.
No it doesn’t. Not even close.
Ken Gray
Show me the money at Lansdowne.
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I find it troubling that the City Manager is cheerleading for an opaque financial arrangement with a developer the City is in a partnership with. Shouldn’t we be expecting a thorough professional presentation from City staff, not the marketing job we are getting?
John:
Yes.
cheers
kgray
Sounds like the answer she gave to Sutcliffe during her interview for the City Manager’s job.
When she was hired as City Manager, was there a probationary period? What steps does the City have to take to trigger it? Because it’s time. She’s demonstrated time after time through her statements that she’s not fit for the job. We can do better and we should.
Hopefully, if she fails in this position, she can’t return to her previous job because we definitely don’t need her as City Treasurer when she’s clearly not able to a) act in the best interests of the City and b) understand the complex tangle that is Lansdowne 1.0 or 2.0. I’m sure if she finds herself unemployed, OSEG can ensure that such a loyal foot-soldier falls on her feet somewhere in the private sector.