REGINA — The Regina Exhibition Association Limited (REAL) has requested Regina’s executive committee transfer unspent debt funding.
In the 2025 budget, city council granted REAL $2.7 million of debt funding.
However, documents provided by REAL state the company has $850,000 in unused debt.
With access debt funding, REAL hopes to transfer the funding towards operating expenditures.
“This funding reallocation would allow REAL to continue stabilizing operations by reducing legacy operating debts this administration has inherited and/or having more flexibility for unplanned capital expenditures.”
Several buildings at REAL have previously been stated to need roughly $10 million over the next few years to repair aging infrastructure, and delaying these repairs could cause harm to the organization.
“If any of these mechanical systems fail during an event, there are significant revenue and reputational risks not only to REAL but to the City [of Regina],” said a REAL spokesperson in February.
The transfer of money also comes at a time when REAL is seeing a hold on attracting major concerts, as the future of the organization is unclear.
In February, city council passed a motion considering REAL’s future, which could include dissolving REAL as a municipal corporation, as Regina would take over its responsibilities. Another option is keeping REAL as its own corporation.
Despite uncertainty, REAL says they’re still exploring opportunities to bring major concerts/singers, including Chappell Roan.
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