Lethbridge and District Exhibition asking for $4.6M to complete new trade centre

According to Lethbridge and District Exhibition CEO Mike Warkentin, the original ask for council was estimated at $7.8 million in overages.

However, the organization secured additional funding from other streams of revenue over the past several months.

In November 2022, Lethbridge County provided the project with a $2 million dollar grant, of which, $1,567,827 was set aside to offset the ask to the City of Lethbridge.

The remaining portion of the funding went towards supporting an increase in operational costs for the new building.

In January 2023, the project received the largest commitment in Western Canada from the Tourism Relief Fund, a federal program through PrariesCan that included over $3.5 million, that again offset costs by nearly $1.6 million.

Following the presentation, the Economic SPC questioned the possibility of what could happen if Lethbridge and District Exhibition did not receive funding.

Warkentin explained, “There’s a series of things that could come of that result. The first thing would be the most immediate and most obvious to the general public, which would be the existing pavilions would stand and parking would still be an operational challenge for guests and visitors coming to the facility.”

He continued, “Mirrored that with the fact that this facility will take us into a different level of visitor economy opportunity and visitors coming to the community, we won’t be able to meet that ultimate expectation level that this facility can bring to the community.”

Warkentin went on to say that if the Main, North and South pavilions are not demolished, it could create significant operational challenges involved in maintaining those facilities that are approaching their ends of life.

“In order for this facility [Agri-food Hub and Trade Centre] to fully meet its operational capacity and opportunity, not just for the City of Lethbridge but for the region, those existing facilities ultimately need to come down,” Warkentin adds.

With an outstanding $4.6 million on the table, the Economic SPC considered grant matching with the Capital Improvement Project (CIP) if it is eligible or utilizing a city reserve.

If the project isn’t deemed eligible for grant matching and council decides to pull the funds from the reserve, city officials say that would reduce the amount that it could use to cover overages from their own projects.

The cost of the new Agri-food Hub and Trade Centre was estimated to total $70.6 million, but as it nears completion, the projected cost is closer to $80 million.

The Government of Alberta has already provided the project with $28.6 million through the Ministry of Agriculture, the City of Lethbridge has provided $25 million, and Lethbridge and District Exhibition has received a loan of $17.8 million through municipal borrowing previously approved by council.

The Lethbridge and District Agri-food Hub and Trade Centre is anticipated to open in 2023.

READ MORE: Lethbridge News Now

by Sarah Jones

Lethbridge and District Exhibition asking for $4.6M to complete new trade centre

What's Happening