On Wednesday, August 21st, City Council proposed a funding strategy for the potential new Downtown arena. With a plan of not relying on raising property taxes, (if estimates pan out) a proposed 9.5 percent amusement tax and a 5.9 percent accommodation tax applied to hotel and online platform stays like Airbnb could bring in up to one-third of the price tag over 33 years.

The administration says conversations are ongoing about what an accommodation tax would look like for local hoteliers. Still, these taxes will be felt above and beyond the PST.

The city administration also pointed out that council voting to approve the funding strategy does not mean the project is green-lit — rather, a plan is in place should both federal and provincial funding for the project come through.

 A full report will be presented on the August 28th meeting of Saskatoon City Council, that outlines a funding strategy that encompasses a mix of funding sources, including public and private contributions, grants and other funding tools. If the reports are approved by City Council, the Administration will continue to work towards achieving the funding strategy. This includes seeking out the necessary agreements and further financial commitments with the provincial government, federal government and private partners.