RED DEER -- Red Deer city council has approved $22 million to help support Westerner Park.

At a special meeting on Tuesday, council approved a stronger legal agreement as well as short and long-term financial support for Westerner Park.

Westerner Park will receive a $3-million grant, funded through operating reserves, which will help it continue operations through the pandemic. Council also approved an additional $19-million loan intended to help Westerner Park pay out a loan it holds for the construction of Exhibition Hall. The $19-million loan will have a 30-year payback period.

“Council did not take the decisions made today surrounding Westerner Park lightly, we recognize the broad community impact the legal agreement and financial support has,” said Red Deer Mayor Tara Veer.

“Council is acutely aware of the economic, social and cultural importance of Westerner Park to our city and region; administration made the recommendations based on historic data as well as 10-year projections and we believe that we made an informed decision that considers and benefits our community as a whole.”

As part of the approved legal agreement, the city will have an increased involvement in the decision making process for Westerner Park’s future goals and its financials.

“With financial support of this magnitude, council approved a new agreement that formalizes the level of oversight the city will require that is not covered in previous agreements,” said Veer.

“The new framework will give the city a higher level of involvement in decision-making, oversight, budgeting, lease agreements and other major items relating to Westerner Park.”

One of those major items is developing a master plan for Westerner Park that will include a 15-year vision, land use concept, multi-modal transportation plan, building design principles, and site-servicing concept.

There will also be the development of an asset management plan to ensure maintenance of all infrastructure on the grounds and to provide a guide for capital investment to support the long-term plan for the site. Council approved one time funding to cover 50 per cent of the contract cost.