City council members will discuss the proposed agreement on Monday behind closed doors.
"Discussions are productive but they're not complete," councilor Jeff Davison said earlier in July, according to Potkins. "We can't give an exact date as to when we'll be back with any information (but) I'm confident if we do bring a plan back, that the public will support it."
The projected cost of the new building will be between $550 million and $600 million, and the proposed arena will seat 18,000 along with retail space, a community rink, and 40,000 square feet of underground parking.
The Saddledome opened in 1983 and has hosted the Flames since.