![]() ![]() And I extend special thanks to the terrific hockey fans of Calgary for their unflinching support of their team and our league. “I want to thank Mayor Gondek, Premier Smith, Councilwoman Sharp, the Calgary Stampede, and the ownership of the Flames, led by Murray Edwards, for their tireless efforts in bringing us to this day. “Today’s announcement is the culmination of so much work by so many and is fantastic news for the city of Calgary, the province of Alberta and the Calgary Flames,” NHL commissioner Gary Bettman said in a statement Tuesday. The city admin will begin formal discussions on “definitive agreements” with all parties later this spring and summer, according to the City of Calgary.Īn agreement has been reached, in principle, between the city of Calgary, CSEC, province of Alberta and the Calgary Stampede, for a new event center.Thirty million of the province’s $330 million commitment is going toward the development of a community rink within the district. Alberta says they’ll be giving their investment over the next three years to develop the district and arena.The event center will cost $800 million, according to the city of Calgary.There’s a financial commitment of $537.3 million from the city of Calgary, $356 million from CSEC and $330 million from the province of Alberta, which includes a land swap with the Calgary Stampede.Costs must be charged in proportion to the benefits received, and costs incurred for joint or common objectives are included in the institutional Facilities and Administration (F&A) and cannot be charged to the project.CALGARY - An agreement has been reached, in principle, between the city of Calgary, Calgary Sports and Entertainment Corporation, the province of Alberta and the Calgary Stampede for a new event center within Calgary’s Rivers District that would become the new home of the Flames. Have all concerned acted with prudence, considering their responsibilities to the organization, community, and others?Īllocable means that good or service can be assigned to an award or cost objective in accordance with the relative benefit achieved.Are the costs comparable to market prices for comparable goods or services in the geographic area?.Do sound business practices support the expenditure?.Is the cost ordinary and necessary for the program?.In order to determine if the cost is reasonable, the following questions must be asked: "A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person under the circumstances prevailing at the time the decision was made to incur the cost." Is the cost consistent with grantee rules that apply to both Federally funded and non-Federally funded activities?. ![]()
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