Council approves revised downtown Edmonton arena deal

EDMONTON – City council voted 10-3  Wednesday to approve a revised deal that will pave the way for construction of a downtown arena.

City manager Simon Farbrother said he worked out details of a summary agreement with the Katz Group this week that’s 95 per cent similar to a framework accepted by the city in October 2011.

The major change is cost. The city faces a $15-million increase in what it will pay, mainly because the two sides will split the increase in the cost of the 18,559-seat facility, now at $480 million, up from $450 million.

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