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Council discussing LOI for downtown arena

(Photo Supplied: The new sunken bowl design for the Sports and Entertainment Centre submitted by International Coliseums Company. May 25, 2015. Council Documents/RMWB). 

Councillors will discuss if the RMWB is ready to sign on with a developer for a downtown arena. Administration recommends drafting a Letter of Intent with International Coliseums Company, which has said it can guarantee a Edmonton Oilers affiliated lead tenant.

In council documents, administration says the letter should include an agreement for negotiations for a parkade. A presentation for tomorrow’s meeting lists a parkade with a maximum of 508 stalls, an option for a Sandman Hotel and for SMG to operate the Sports and Entertainment Centre.

Administration also recommends a final design and binding contract is negotiated with the ICC. Council would still have final approval on both.

The ICC also submitted a new sunken bowl design after an initial meeting on March 6, 2015. At the time the RMWB listed 12 negotiation points, including a modern and iconic design for the building.

The Municipality and ICC will work together on a joint strategy that will include public engagement sessions. Council meets tomorrow night to discuss the move.