Regina, Saskatchewan, September 20, 2007 - Canada's New Government will
consider funding of up to $20 million for the construction of a new
multi-purpose facility at IPSCO Place under Building Canada, the
Government of Canada's new long term infrastructure plan. The Honourable
Gerry Ritz, Minister of Agriculture and Agri-Food and Minister for the
Canadian Wheat Board, made the announcement today on behalf of the
Honourable Lawrence Cannon, Minister of Transport, Infrastructure and
Communities, together with Tom Lukiwski, Member of Parliament for
Regina-Lumsden-Lake Centre, Mark Allan, President and CEO of IPSCO Place,
and Regina Mayor Pat Fiacco.
"Canada's New Government is pleased to support important projects such
as this," said Minister Ritz. "As part of the historic Building Canada
infrastructure plan, our government is investing in public infrastructure
projects which support a growing economy, a cleaner environment and a more
secure Canada."
The proposed construction of a new multiplex is part of a larger
revitalization Master Plan for the entire complex and will help attract
large events to Regina. The larger revitalization includes the
construction of a 400,000 sq. ft. complex which includes exhibition hall
and event facilities, the upgrade of the Brandt Centre, and the demolition
of 19 older buildings. This will provide the community with modern,
comfortable, state-of-the-art facilities which are available year-round.
The multi-purpose facility that is the subject of today's announcement is
the proponent's most important project component.
"Our event site has a significant role in attracting and hosting
world-class agri-business, sporting, entertainment and cultural events and
has a major economic impact on the community," said Mark Allan, President
and CEO of IPSCO Place. "This project will allow us the opportunity to
move forward with our master plans for revitalizing and redeveloping IPSCO
Place and will also ensure that we can continue to be competitive
nationally and internationally. We're looking forward to continued
partnerships with all three levels of government to see the multi-phase,
multi-year project completed."
"We are very pleased with the Government of Canada's decision to make
this major revitalization project a priority," said Mayor Pat Fiacco.
"This project will help ensure the long-term sustainability of IPSCO
Place."
Financial support for the project is conditional on the successful
negotiation with the Province of Saskatchewan of a framework agreement
under Building Canada. It is also conditional on a federal due diligence
review of the project, the successful completion of an environmental
assessment and the successful signing of a contribution agreement.
Through its unprecedented $33-billion Building Canada infrastructure
plan, Canada's New Government will provide long-term, stable and
predictable funding to help meet infrastructure needs across Canada.
Building Canada will support a stronger, safer and better country.
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Contacts:
Karine WhitePress Secretary Office of the Minister of
Transport, Infrastructure and Communities613-991-0700
Infrastructure Canada613-948-1148
