LETHBRIDGE, AB – Following some uncertainty about funding, the City of Lethbridge will be going ahead with the Festival Square transformation after all.
Due to inflation and a revised scope, the Festival Square project was expected to come in over its $900,000 budget.
The province told City Council last month that there was no extra funding available, but flexibility on completion dates could be provided in order to move money between projects.
Last week, City Council revised the plan for Municipal Stimulus Program funded projects to use a surplus from the Lethbridge Airport Renovation for the Festival Square project.
Just over $800,000 of the $1.9 million surplus from the airport’s lighting and pavement renovations will now cover most of the budget needed for Festival Square.
Andrew Malcolm, Lethbridge’s Urban Revitalization Manager, says this appproval by Council shows a balanced approach to the distribution of stimulus funding in two strategic locations supporting different segments of economic recovery.
Construction timelines for the Airport Renovations and Festival Square will be updated at a later date.