Exhibition to ask for $6.7 million to account for unexpected expenses

The Lethbridge and District Exhibition will ask city council to approve a grant of more than $6 million to account for un-budgeted costs related to the new Agrifood Hub and Trade Centre. 

It is seeking either a grant for $6.7 million or a $2 million dollar grant, alongside a four-year debt deferral totaling $4.6 million, to be paid at the end of the Exhibition’s loan. 

With either one of the options, it also wants the city to take immediate control of the old pavilions, except the West Pavilion. 

According to a submission from the Exhibition, the extra costs come from increased interest rates, cost to keep the old buildings running and building specific operational requirements. 

The ask will come to city council at its Nov. 28 meeting.