Lethbridge Exhibition Park asks council for $17.8 million towards new Agri-food hub

Aug 10, 2020 | 6:34 PM

LETHBRIDGE, AB– Exhibition Park presented a $17.8 million ask to City Council Monday (Aug 10) afternoon, in their plan for a new building on the exhibition park grounds. The money is in addition to the province’s investment of $27.8 million.

The presentation included information that well over half of Exhibition Park events are agriculture-based.

City Council would have to provide a loan for any further movement of the project, which would last 30 years.

Exhibition Park added that in order to access a loan of this size, it wouldn’t be worth seeking a loan anywhere else other than the city government because of interest rates alone.

The $17.8 million is in addition to the $25 million grant from years ago, to go towards the new upgrades and a new event centre for Exhibition Park.

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The proposed new building for the park would be placed directly in front of the other two buildings they will be keeping in place for events.

Exhibition Park does not own the land, therefore, the money would have to come in loan-form, and eventually would be paid back to the city and would not be tax-supported.

The presentation was given its first look over by council and has been postponed until the August 24th, 2020 council meeting.

by Connor Gunn