Mayor Sandra Masters says Tim Reid’s future at Regina Exhibition Association Limited (REAL) is up to the future board of directors that will be appointed by city council.
“As of right now he's the CEO and operates as the interim board until council votes a board in,” Masters told CTV Morning Live Saskatchewan. “He would be reporting into council at present. I suspect that we'll have a meeting in the very near term – in terms of appointing an interim board of directors.
“It will be up to the board of directors in terms of Tim Reid’s future,” she added.
The City of Regina announced Thursday afternoon that it would be holding a special meeting on Friday, Nov. 24 regarding REAL’s interim board of directors.
According to the meeting agenda, council will discuss appointing City Manager Niki Anderson along with city employees Barry Lacey, Ly Pham, Jennifer Johnson and Jeff May as the voting directors on REAL’s board.
All five appointees would serve a term from Nov. 24, 2023 to July 31, 2024 “or until such time as their successor is appointed.”
The city will also look to amend REAL’s Unanimous Membership Agreement (UMA) to decrease the minimum size of its board of directors from nine to six and the minimum number of voting directors from seven to three.
City council decided in a 6 – 5 vote to remove REAL’s board of directors during its meeting on Wednesday.
Soon after the vote, all voting members of REAL’s board submitted their resignations to council.
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In a response to a CTV News inquiry – a REAL spokesperson said the organization does not have a comment on council’s decision “at this time.”
Speaking about the future of the organization – Masters’ said she hopes for added investment into REAL – which has recorded a capital deficit since the city took ownership of its facilities in 2014.
“I would like investment in the property. I think that it's been identified,” she explained.
“We need that facility for its interconnectedness – there's nothing like it in Canada and we punch above our weight because of that … so we need bids to be continued to be bid upon and those are normally two to three years out. So we need that to continue happening.”
A recent report from MNP commissioned by council described REAL’s current financial situation as unsustainable. The organization is currently over $17 million in debt.
Masters’ said she has faith in the workers of REAL as the city works through the process of choosing a new board.
“I think there's some pretty committed staff that are there,” she said.
“The hours that they work in terms of everything from janitorial to Zamboni drivers, and so all of that work will continue. It's really more a matter of getting through budget."
CTV Morning Live Saskatchewan's full conversation with Mayor Sandra Masters can be viewed in the video player at the top of this story.
With files from Donovan Maess.
