Article content continued

City officials estimate the scheme would cost at least $102 million, with about $35 million of that expense covered by the savings from closing four aging single-rink arenas.

This price is roughly the same as two new twin arenas or one fourplex, which will be needed if the coliseum plan doesn’t go ahead, and eliminates the $8-million cost to demolish the building, Iveson said.

The Oilers Entertainment Group (OEG) has a veto on any sports or entertainment use at the coliseum through the downtown arena deal.

While Iveson said details of how the Oilers might participate must still be worked out, he said OEG chief executive Bob Nicholson, a former Hockey Canada president, has already helped by bringing in Hockey Canada.

“If we find an opportunity, whether it’s through some of the corporate sponsors that Hockey Canada can bring to bear, with OEG seeing value in it as well for their business and for hockey development, and we can bring (leasing and funding) to the table, I do think there’s a model we can find.”

Earlier this month, city council gave staff until May 30 to secure written support for the project from the OEG and Hockey Canada.

Once they receive those endorsements, they’ll debate funding a $2.8-million business case and functional design.

Iveson also sees potential in supporting agri-business for financially struggling Northlands, which wouldn’t necessarily be involved in a coliseum development and is due at council in June with an agricultural vision for the not-for-profit organization.

“This whole region, taken together, by some estimates is Canada’s food capital,” Iveson told the Rotary luncheon.

“I think there’s a huge role for Northlands … driving that food-oriented sector into the future.”

gkent@postmedia.com

twitter.com/GKentYEG