City of Regina to select new REAL board of directors during special council meeting
Global News
Regina city councillors are set to meet for a special meeting Friday afternoon to select a new board of directors for Regina Exhibition Association Limited (REAL).
Regina city councillors are set to meet for a special meeting Friday afternoon to select a new board of directors for Regina Exhibition Association Limited (REAL).
On Wednesday, all members of the REAL board of directors resigned shortly after Regina city council voted to fire them amid uncertainty over the organization’s future.
During the meeting, council discussed a motion that would have administration provide a report to council in 2024 on what would be required to dissolve REAL.
The report will be presented to council at the end of the second quarter in 2024.
The decision comes after a financial review on REAL was done by MNP that showed that MNP does not believe REAL could break even in the immediate term and is expecting REAL to face major financial losses of $4 million to $5 million in the next three years.
REAL requested more financial help from city council in next year’s budget to remain operational.
In the discussion, many councillors expressed their distrust in the organization and its request for financial assistance.
During the discussion, Coun. Andrew Stevens requested that council go in camera to seek legal advice on the matter. They remained in camera for about 50 minutes.
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