By Sam Borsato - (@BorsatoSam on Twitter)

Hurricanes Chase Provincial Grant for Capital Debt Reduction

Sep 8, 2016 | 10:23 AM

LETHBRIDGE:  The Lethbridge Hurricanes have turned to the community to help them out of a tough financial situation.

The ENMAX Centre underwent some major renovations from 2008 to 2012, and the hockey organization is responsible for $2.5-million of the $25-million price tag. Its management staff still owes roughly $2.17-million at this time.

In the current payment agreement, the Hurricanes are required to pay the City of Lethbridge $167,000 annually, over the next 13 years.
 
However, Council agreed on Tuesday (Sep. 6) to write a letter of support for them to apply for a Government of Alberta Community Facility Enhancement Program (CFEP) grant. The Hurricanes have also received additional letters from other groups they’re partnered with to demonstrate the community’s support.
 
Doug Paisley, President of the organization, says a maximum of $600,000 is up for grabs to help reduce any capital debt, if the application is successful.
“We’re scratching and clawing out of some tough times, and it’s going to take a couple more years of success on the ice and success with seat occupancy,” said Paisley.
 
That said, Paisley made it clear that the club is able to service its debt comfortably, and he’s happy with their position right now. He added that they “would be crazy” not to apply anyway, to help speed up the payment process.

The deadline to submit the application is September 16, and Paisley says it will take about 90 days to hear back.