REGINA – A $38.4 million project is on the table at city council this evening.
Regina city councillors will vote on whether the city should contribute $11 million for the construction of the proposed International Trade Centre at Evraz Place.
The federal and provincial governments are expected to chip in $27 million with an additional $5 million coming from the private sector.
According to a report from the city, the facilities on the west side of Evraz Place, used by the Canadian Western Agribition and the Farm Progress Show, have deteriorated and are becoming expensive to maintain.
The 150,000 square foot International Trade Centre will replace a section of older buildings on the west side of Evraz Place. Regina Exhibition Association Limited (REAL) will manage the construction of the project.
The city says instead of increasing its debt, the $11 million would come from the General Revenue Fund, which is forecasted to have a balance of $29.9 million by the end of the year.
Pending the city’s approval, construction on the project is expected to get underway in November and completed by 2017.
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