REGINA — After striking a deal to take ownership of several buildings at the Regina Exhibition Association Limited (REAL), Brandt is now looking to oversee operations of several other city-owned properties.
Per a council report, Brandt is proposing to take over the operations and maintenance of Mosaic Stadium, Co-operators Centre, AffinityPlex and Confederation Park after meeting closed doors with Regina city council last Wednesday.
In the report, Brandt said excluding the four assets from their operations would result in “less efficient operations on the REAL campus”
Brandt has also acquired the Canada Centre/Avana Centre with a deal to acquire the Brandt Centre, the Agribition Building, and the Queensbury Centre set to close on Sept. 1.
The city also acknowledged the challenges associated with operating four sites, including Regina’s ability to utilize existing REAL staff and the uncertainty staff face as they transition under Brandt ownership.
Seven hundred staff under REAL will now be working for Brandt as part of the agreement struck in May.
Regina also noted inefficiencies that may arise from coordinating events between two separate parties.
The proposed terms are based on amendments to a previous deal between the City of Regina and REAL.
Originally, the Mosaic Stadium deal would have expired in 2028, with the city having the option to pick up two five-year renewal options. As for the Co-operators Centre, AffinityPlex and Confederation Park, its deal would have expired in 2031, unless the city picked up a two five-year renewal option.
Now, for Mosaic Stadium, the proposed agreement term would end on Dec. 31, 2031, with the city having the option to renew it for three terms over 15 years and with the existing mutual termination for convenience provision removed.
Meanwhile, the Co-operators Centre, AffinityPlex and Confederation Park agreements would end on Dec. 31, 2031, with the city also having the option to renew for three terms over 15 years.
Unlike Brandt’s previous deal with the city, no buildings involved in the proposed agreement are for sale.
A final decision on the agreement will come at Regina city council on Wednesday.
