City council tackles full agenda in regular meeting
A heavy agenda was set out for Red Deer city council Monday, including a housing development strategies report, changes to the Executive Limitations policy, and decisions around the Westerner Exhibition Association (WEA).
Regarding the WEA, council passed first reading of a bylaw amendment to an existing $19 million loan agreement that was initiated in September 2021, when the City paid out the WEA’s loan from CIBC for the exhibition hall at the grounds.
The amendment would suspend the interest and principal payments on the loan until directed to resume by city council, and was proposed in an effort to give the WEA time to achieve greater financial stability.
Second and third readings are expected to return to council in January 2025.