The Lethbridge and District Exhibition (LDE) will continue to operate the Agri-food Hub and Trade Centre for at least for the next two years.
Lethbridge city council voted 6-2 on Tuesday night to continue with operation of the $70.7 million facility, with no additional tax increases next year.
Council approved a resolution to defer a 1.4 per cent property tax increase to 2027.
In order to cover the $4.1 million in annual operating costs, the city will use $2.6 million of one-time funding for future needs and $1.5 million of corporate contingency.
“It’s a situation we didn’t want to be in, but we’re here now, what do we do? We need that building to stay open,” said Mayor Blaine Hyggen following the 12-hour meeting.
By deferring the tax increase and using existing contingencies, council will be able to have balanced budget in 2025 and 2026.
“When you raise the tax …