MARKHAM, Ont. – City council in Markham, Ont., voted 11-2 Wednesday night against using any public funds to build an NHL-sized arena.
The vote effectively kills a proposed financial framework with businessman Graham Roustan, the CEO of GTA Sports and Entertainment.
The proposed plan was to have Roustan’s company put up half of the cost, $162.5 million, for a 20,000 set arena while the city would cover the other half.
Last week, Roustan put forth another plan in which he would increase his share of the cost to about $200 million.
Council decided to study that proposal further.