The long-term future of the Regina Exhibition Association (REAL) was once again up for discussion at Henry Baker Hall on Wednesday.
Ward 3 Coun. David Froh presented a motion to his colleagues which could eventually lead to the dissolution of the organization.
“It’s unfair to ask [the REAL] board to consider dissolution [itself],” Froh told reporters following the meeting. “That’s the job of council.”
The motion received unanimous support from present councillors.
It directs the city’s administration to bring forward options for the restructuring of REAL’s assets and operations, considering its financial sustainability.
Potential outcomes could mean the city taking over full or partial control of those assets, or REAL continuing to operate under more efficient finances.
“I don’t have enough information yet to make a decision,” Froh admitted. “I also don’t want to wait many years to make a decision and revisit this every single year.”
“The reality is there is no short- or medium-term solution for REAL,” he added.
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The directive comes after previous council members requested REAL review its organizational structure last summer before the November municipal election.
Administration will formulate its report in collaboration with REAL’s current Board of Directors and bring back a clearer path forward within 18 months.
“This newly appointed board is in agreement with council, and, moreover, the citizens of Regina, that all viable options regarding the future of real need to be explored,” board chair Jaime Boldt told councillors Wednesday. “We appreciate the 18-month runway, as time is required to explore all options so an informed decision can be made.”
REAL has also been asked to bring monthly financial reports to council, rather than quarterly.
“REAL has had to come back to council several times, unplanned because they haven’t understood their true financial picture,” Froh said. “And that’s what it’s intended actually, to allow us to be better partners.”
More than 3.5 million patrons visit the REAL District each year, according to the organization.
Regardless of what the pathway forward is, Mayor Chad Bachynski believes the success of REAL is crucial for the larger city picture.
“[Residents] have concerns about REAL,” he said. “But [we] also need to turn the page and really take a fresh start with REAL.”
“We need to start looking at it as the positive entity we really want it to be looked at, which is it provides a great asset to our city,” Bachynski added.
REAL is scheduled to bring its 2025 civic budget request to executive committee Feb. 26.
In its proposed budget last week, city administration estimated REAL’s funding request to be $12.7 million - $7 million more than in 2024.
