Regina’s debt limit could increase to $450 million if the city’s request for an exemption on a provincial loan for a new stadium is denied.
On Wednesday, Regina’s executive committee approved a motion asking the Saskatchewan Municipal Board to exclude the $100 million loan from the city’s debt total.
Councillors also voted in favour of asking the board to raise the city’s debt ceiling to $450 million, should the request for the exemption be denied.
Regina Mayor Michael Fougere told reporters he’s confident the board will approve the exemption.
Last May, councillors voted in favour of increasing the city’s debt limit to $350 million from $200 million.
