The city and the Lethbridge and District Exhibition have signed a memorandum of understanding that will create an interim governance model for the organization.
It will consist of City of Lethbridge and Lethbridge County administration and will be focused on building a viable business model for the Agri-food Hub and Trade Centre and Exhibition as an organization.
“While this is not a position we ever wanted to be in, the City is committed to making sure we do everything we can to minimize the impact on our community,” says city manager, Lloyd Brierley. “The new LDE governance body will ensure the interests of residents are at the centre of all decisions moving forward.”
Council approved $3.8 million in additional funding for 2024 to the Exhibition after the organization, with help from city administration,. developed a revised 2024 operating budget with a shortfall of $6.5 million per year.
“The reality is, we would have to pay this much, or more, if we didn’t sign the MOU and we would be in jeopardy of losing all of the benefits LDE and the Agri-food Hub bring to the quality of life in our community,” says councillor Mark Campbell. “From AgExpo and Whoop Up Days to our weekly farmers markets, the events and activities at the Exhibition create a vibrant and connected community. LDE creates jobs, both within the organization and all those contracted or associated with the events hosted there. The Agri-food Hub also attracts visitors and investors to Lethbridge. These are just a snippet of the many things that have a far-reaching positive impact on our city.”
The MOU also included a thirds party review of Exhibition’s operations and redemption of shares from current LDE shareholders to the City of Lethbridge.
Decisions are yet to be made on decommissioning the old pavilions and parking lot refurbishing.
The city says it has quickly gained new insights into the building operations, limitations and opportunities.
“There has been a lot of information sharing and discovery over the last few weeks,” says Kim Gallucci, interim transition leader at LDE. “The staff are working hard to successfully execute the many events happening at the Agri-food Hub, while at the same time, exploring new ideas to find efficiencies and additional revenue opportunities that will improve operations going forward.”
The city discovered the Agri-food Hub and Trade Centre is unsuitable to hold livestock and says this limits some agricultural uses it was expected to be to be able to support. The interim leadership team will be working to explore other possibilities onsite to accommodate these types of activities.
BACKGROUND: Emergency resources approved with new interim governance for Exhibition