City council approves new Regina exhibition Board of Directors
Regina city council approved a new Board of Directors for the Regina Exhibition Association Ltd. (REAL) at their meeting Wednesday.
Seven people were recommended and approved by executive committee last week.
They are Michael MacNaughton, Kevin Dureau; Kathy Hillman-Weir, Christine Short, Sarah Fedirko, Johnathan Hackshaw, and Jamie Boldt.
The board was passed unanimously with zero discussion on the topic at the meeting.
Four of the board members would have a term of three years while the remaining three members would sit on the board for just two years.
Regina City Manager Niki Anderson, who is currently the interim board chair, would remain on the board of directors in a non-voting director position.
The new board of directors will be in charge of recruiting a permanent CEO for REAL.
Loan request tabled
REAL was also set to bring forward a loan request of $4 million to pay down its line of credit (LOC) at Wednesday’s council meeting.
The item, along with more than a dozen others, were tabled to future meetings.
“Anything that has to do with the financials is a multi-year budgeting question,” Mayor Sandra Masters told reporters following Wednesday’s city council meeting.
“If we [don’t] make a decision, they could do a single year and go back to multi-year,” she added. “There’s things administration needs to work on that need to support the municipal organizations prior to budget.”
The loan request will be before councillors again Oct. 1, 2024.
According to city agenda notes, REAL will reach the maximum approved balance of their $6.8 million LOC in October, so will not have enough cashflow to operate into 2025.
REAL is also required to pay the federal government $8 million in wage subsidies stemming from a 2020 pandemic relief program, which city council had agreed to pay for.
If the $4 million is approved, the money would come in the form of an operating grant from the General Fund Reserve and would be paid before the end of October of this year.
The funding would keep REAL within its maximum LOC limit until March 2025, then will require additional funding in April 2025.
CTVNews.ca Top Stories
W5 Investigates A 'ticking time bomb': Inside Syria's toughest prison holding accused high-ranking ISIS members
In the last of a three-part investigation, W5's Avery Haines was given rare access to a Syrian prison, where thousands of accused high-ranking ISIS members are being held.
'Mayday!': New details emerge after Boeing plane makes emergency landing at Mirabel airport
New details suggest that there were communication issues between the pilots of a charter flight and the control tower at Montreal's Mirabel airport when a Boeing 737 made an emergency landing on Wednesday.
Class-action lawsuit on 'opioid-related wrongs': Court to rule on drug companies' appeal
Canada's top court will rule Friday on the appeal of a class-action lawsuit meant to recoup some of the costs associated with British Columbia's opioid crisis from major drug makers and distributors.
Real GDP per capita declines for 6th consecutive quarter, household savings rise
Statistics Canada says the economy grew at an annualized pace of one per cent during the third quarter, in line with economists' expectations.
Cucumbers sold in Ontario, other provinces recalled over possible salmonella contamination
A U.S. company is recalling cucumbers sold in Ontario and other Canadian provinces due to possible salmonella contamination.
Irregular sleep patterns may raise risk of heart attack and stroke, study suggests
Sleeping and waking up at different times is associated with an increased risk of heart attack and stroke, even for people who get the recommended amount of sleep, according to new research.
Nick Cannon says he's seeking help for narcissistic personality disorder
Nick Cannon has spoken out about his recent diagnosis of narcissistic personality disorder, saying 'I need help.'
California man who went missing for 25 years found after sister sees his picture in the news
It’s a Thanksgiving miracle for one California family after a man who went missing in 1999 was found 25 years later when his sister saw a photo of him in an online article, authorities said.
As Australia bans social media for children, Quebec is paying close attention
As Australia moves to ban social media for children under 16, Quebec is debating whether to follow suit.