The City of St. John’s is going to consider privatizing Mile One, but there are many pros and cons to weigh out.
Businessman Dean MacDonald has floated the idea of purchasing the money-losing facility, but the city will not be meeting with him.
A consultant’s report done last year on the subject could find no case where a municipally-owned medium or large-capacity arena was sold or leased, long-term, in Canada.
Councillor Jamie Korab, the councilor responsible for St. John’s Sports & Entertainment, says there are a lot of risks associated with selling a public asset, especially loss of control.
It brings a lot of economic benefits to hotels, bars, and restaurants, and owning Mile One allows the city to bid on events such as the Brier.
If it does decide to privatize, it will be an open competitive process. Council will make the consultant’s report public over the next few months.
