The Calgary Flames released their proposed plans for the "Plan B" arena project in Victoria park Thursday morning.

The plan called for the Flames owners to chip in $275-million in cash for the $500-million project, with the other $225-million coming from a "Community Revitilization Levy" through the city, which is similar to the model used to finance the redevelopment of Calgary's East Village.

It's also similar to the formula used in Edmonton to build Rogers Centre.