City approves $42-million for Exhibition Park expansion
Aug 24, 2020 | 4:13 PM
LETHBRIDGE, AB – A major hurdle for Exhibition Park’s new Agri-Food Hub and Trade Centre was cleared Monday.
Lethbridge City Council approved a few motions to help finance the 268,000 square foot project.
This includes:
- A 30-year non-tax-supported $17.8-million loan that will become available in 2022
- The execution of a motion from 2017 to provide a $25-million grant
- Approval of a site lease to Exhibition Park for 50 years
- $3.8-million in debt owed to the city will be forgiven in exchange for 155.71 acres of land that Exhibition Park currently owns