The Olds Agricultural Society has one of two municipal endorsements needed to submit a federal grant application intended to help fund its estimated $49.96 million Gateway Project.
Town council passed a resolution last week supporting a request from the Olds Agricultural Society to go forward with an application to the P3 Canada Fund and to support the society's expansion plans going forward as a P3 design, build and financed project.
General manager of the OAS Tami Gardner said the project is going forward based on the five-year business plan that was adopted by the OAS in January. She told councillors there have been no changes made to the plan.
According to the business plan, the project includes an estimated $15.6 million redevelopment of existing OAS lands in Olds, and the development of an estimated $34.36 million Gateway Centre in Mountain View County.
The centre, currently pinpointed for the northeast corner of highways 2 and 27, is proposed to include convention, community, agriculture and interpretive facilities, a 100-room hotel, racino (casino and race track), and grandstand.
Gardner said the OAS has had discussions with other landowners for land other than at Highway 2 and Highway 27, but for the time being that remains the OAS's most promising relocation site.
In an interview following the presentation, Gardner said the OAS hasn't yet determined the amount it would be asking for in the grant application. The deadline for applications for the federal government sponsored program is June 30, and Gardner said the OAS will be busy making sure its application is in order prior to submitting it.
Gardner said the P3 program fits well with the OAS's aims for the Gateway project.
“It actually aligns extraordinarily well with the ag. society's project because it has always been our intent to incorporate both the private and the public sector,” she said.
The P3 program supports a number of different types of infrastructure projects, including tourism and convention facilities, similar to what is envisioned in the OAS plan.
The total cost of the OAS is about $20 million for agricultural facilities, plus an unspecified amount for hotel and convention facilities, Gardner said.
Gardner said in order for the OAS to realize the full potential of the current property in town, the organization would have to ask town council at some point in the future to re-designate the current OAS site away from recreational facility. Once that took place, it could entertain offers from prospective interested parties in its property.
Gardner said the OAS has enjoyed its time in Olds, “but as our business grows we realize that the interface of our business with residential very close isn't maybe the most desirable … so we certainly welcome the opportunity to look at a new site.”
Mayor Judy Dahl said she was pleased that Gardner answered all questions councillors had and was pleased to give them the support the OAS was looking for.
“It's been a long time coming. This is part of their process is to go to municipalities … for support in principle on where they're going … and they have to do baby steps to get there,” she said.
Norm McInnis, the town's chief administrative officer, said he personally feels the OAS has provided the town with a vision council and administration could support.
“I think it's a very ambitious business plan and I think that the Town of Olds will do all that we can to ensure that as far as the redevelopment of their current lands to finance their move, we will help out in whatever ways we can to (facilitate that),” he said.
