City takes over Lethbridge & District Exhibition
The Lethbridge & District Exhibition has a new board of directors and will back its community-owned shares after a new agreement between the Government of Alberta and Lethbridge city council takes effect after that city was asked to take over the Agrifood Hub and Trade Centre.
The 288,000-squarefoot facility opened its doors in August 2023 for WhoopUp Days, but by November 2023, projecting a financial deficit for the next three to four years, officials asked the city to takeover the Hub and provide emergency financial relief.
A negotiated agreement signed in late January sets up a new board structure following the resignation of all members of the now former LDE board.
A shareholder redemption process is underway, as the City of Lethbridge is now the sole voting shareholder of the LDE. Refunding of all share costs to former shareholders is expected to be completed by the end of the month.
The newly appointed LDE board is cochaired by Lethbridge city manager Lloyd Brierley, and Cole Beck of Lethbridge County. Joining them as vicechairs are
Carly Kleisinger with the City and Jennifer Place with the County.
Other board members comprise Brian Loewen, Jason Elliott, Travis Hillier,
Darrell Mathews, and Nicole Mitton.
The new acting CEO will be Kim Gallucci, who takes a one-year leave from his role as general manager of the Enmax Centre.
“This week was the first meeting of the new board, and part of that is actually developing the framework for all of the plans and things to come over the next number of months,” says Brierley.
“Our focus for the next year will be on finding the best ways to reduce the gap between the operating budget required and revenues coming in so we can create a more sustainable future for Agri-food Hub & Trade Centre.”
Brierley said a third-party review will look into cost overruns and determine if changes required in terms of building and operations, examine revenue generation and expense management.
Co-chair Cole Beck says scheduled events should be unaffected by the changes in leadership.
“One of our primary goals with this transition is to ensure the Agri-food Hub & Trade Centre maintains its business continuity,” he said. “We want the community, the region, and the province to know that we are open for business, and the excitement of a sold-out Ag Expo, in just a couple of weeks, is a great way to demonstrate that.”