Conservatives Eye $1-Billion Federal Fund to Pay for Stadiums

The P3 Fund is considered the most viable source of money to pay for a new NHL-ready arena in Quebec City.

Quebeckers want it and the Conservatives want to give it to them, the only problem is how to pay for it. Tory insiders believe that providing federal funds for hockey arena in Quebec City would be a major vote-getter, but throwing $100 million at a hockey rink during a recession is seen as politically risky. Sources now say the Conservatives are trying to find a way to fund the project with money from the $1-billion P3 Fund, which was set up using a spending surplus in 2008 to provide government money for public-private partnerships. The only problem is P3 guidelines explicitly forbid using the fund for facilities used “primarily” for pro sports. Conservatives are reportedly trying to find a way around that regulation.