Markham $325 million Arena marches on

The Toronto Star in the Saturday paper (http://bit.ly/Wx9gsQ) gives a detailed analysis of the latest municipal boondoggle now proceeding with exceptional haste, in the Town of Markham.   To date, there has been very little public discussion of the merits of this project or of this major investment by Markham in what is essentially a private, commercial venture, nor any real disclosure of the true financial details, financial projections, and the true exposure that Markham taxpayers may face if things do not go according to Hoyle.   Apparently, taxpayers who took little interest in the mega-project when announced in April 2011, are now waking up and starting to ask questions. How will the private sector contribution of $162 million be guaranteed? How will the $162 million investment by Markham be made without any tax increase or tax burden? Why are new homebuyers being saddled with a disproportionate share of these costs where supposedly all of Markham citizens will be benefiting from this project? Arm-twisting of developers to essentially "buy" expedited approvals in exchange for contributions to fund essentially a private commercial venture, set a bad precedent.  Markham should be working towards expediting approvals for all developers to move projects along, reduce carrying costs and get more low-cost housing to the marketplace, which is desperate for product. The "voluntary" contributions being requested from developers in exchange for expedited approvals is without legal basis and borders on undue municipal influence and pressure. Ultimately all this will result in ever escalating new-home prices for purchasers in Markham, and potentially limit growth as a result.   There have been endless examples across the province over the years, of grandiose schemes and monuments to municipal governments, with mega-city halls, large theater/entertainment complexes in Richmond Hill, North York and Mississauga, which remain underutilized and cost the taxpayers significant dollars every year merely to maintain. Is this what the new Markham arena is destined to become? Does the GTA need another 20,000 ft.² arena funded in large part with public money so that the Mayor and a major GTA developer can have monuments for themselves? As a private enterprise vehicle, located in the right portion of the city, the Markham arena is potentially an excellent idea. As a publicly funded and supported project with no NHL team in sight and an excess of theater and entertainment venues already (see future demolition of Princess of Wales Theatre in Toronto), is another form of mega sports/entertainment complex really needed?   This project seems to be on an amazing fast-track for the size of the investment, both public and private and the complexity of the arrangements. Hopefully, both Markham citizens and councilors start waking up to this potentially burdensome project and begin asking many more questions before any approvals are granted, and any binding municipal contributions are etched in stone.