Halifax mayor Mike Savage would like to see a CFL team in his city, but he’s considering all the information at hand before backing Schooner Sports and Entertainment’s new stadium plan.
— HalifaxToday (@HalifaxToday) September 27, 2019
The stadium proposal, which became public on Thursday, would cost an estimated $94 million, with an additional $10 million required for land purchase. SSE had included five different funding options in the proposal, but Savage has ruled out the city being a loan guarantor.
Savage is also considering other significant factors before throwing his support behind the proposal, including how the stadium will fit into the city’s municipal transit plan.
The biggest issue, however, is ensuring that the city doesn’t end up on the hook if the stadium doesn’t generate the growth it promises. That will involve a lot of number crunching and a complicated system of tax incremental financing that still needs to be ironed out.
CFL Commissioner Randy Ambrosie has said that the possibility of a 10th CFL franchise hinges on a new stadium, and those hopes currently reside in the hands of Savage and his city councillors.