Westerner Park CEO Mike Olesen (rdnewsNOW file photo)

By Josh Hall (Twitter: @Vancan19)

Council approves $22M package

Westerner Park CEO says City bailout gives taxpayers ‘right level of assurance’

May 13, 2021 | 5:12 PM

It’s been a long haul for Westerner Park officials, says CEO Mike Olesen, a day after Red Deer city council approved a $22 million aid package.

The bailout, which includes a $3 million operating grant and $19 million loan, allows Westerner Park out from under a massive rock that would’ve seen it run out of operating cash within a month.

“We’re quite pleased. We feel good about it, and believe it gives the right level of assurance to taxpayers whose funds are involved, while leaving us the right amount of autonomy,” says Olesen.

“Primarily, it’s an investment. With the degree of economic activity we bring to the community, it’s huge, and I don’t think anyone denies that. We facilitate a lot of good things and experiences for Red Deer, with benefits for hotels, restaurants and retail centres. The design of it is quite responsible.”

Olesen echoed the comments of some city councillors in saying things won’t improve overnight, and the situation is made doubly difficult in not knowing what hosting future events will look like when it comes to having people attend them.

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Though there will be challenges, he explains operations at Westerner Park have been modernized, and never before have the folks running it had as much control.

“We’re not overextending ourselves, and we’re focusing on value for people coming to the park.”

Council applauded Olesen’s work last month, saying he has proven himself the right man for the role in such a dire time.

“(There’s) nothing like a little pressure to give a guy motivation, and I’m flattered. But I think the point is that it’s important that I’ve been candid and upfront about what’s happened here, and that’ll continue. It’s critical because without that, event organizers won’t have confidence in working with us.”

He adds it’d be great to not have to use the $3 million operating grant at all, something that could be avoided if, somehow, the non-profit is able to host even a scaled-back Westerner Days which in a normal year brings in around $2 million in revenue.

Olesen says Westerner Park and many others are watching closely what happens with the Calgary Stampede to see what’s feasible for central Alberta and elsewhere across the country.

Meantime, the hope is facilities like Exhibition Hall, which played a significant part in the Westerner’s financial mess, will be able to attract a variety of events going forward.

Says Olesen: “We’re the ones creating these events now, whereas before we sat back and waited. Now, we’re recruiting them.”

The other big part of city council’s decision is to pay for half the cost of a $500,000 facility assessment. Westerner will pay the other half, as prescribed in the 35 recommendations Deloitte made last fall.

Olesen says 20 of those are complete, with the remainder in progress.

“Our general tone is that we are completely aligned with gravity of the decision made by city council,” says Olesen. “We respect it and we’re quite thankful that this has occurred. We feel very strongly it was the right thing to do.”