PGX Not Likely To Get Good News on Loan Forgiveness
Monday, June 25, 2012 @ 3:55 AM
Prince George, B.C.- The Prince George Exhibition is not likely to receive any positive news from Prince George City Council this evening.
The PGX had requested the City forgive the balance of the loan owed, ($36,000) and offer the rent for this year “in kind” as a gesture to recognize the PGX’s centennial celebrations.
While Council did call for City Staff to examine financial options, there was little optimism that, shaking the City Hall money tree would produce any results.
The report from staff is not a positive one. It examines three scenarios:
1. Have the PGX apply for a Cultural Grant, but that would not assist the Exhibition this year.
2. Reducing service levels within city operations to offset the payments lost through forgiving the loan
3. Renegotiate the terms of the current loan.
The Prince George Exhibition had borrowed $45 thousand dollars from the City to offset the loss experienced as a result of a lawsuit.
Comments
Funny, downtown businesses/developers can get a tax break for years but the city can’t help out the PGX???
Let it go broke! The whole neighbourhood will be much quieter in August!
Hope for the best, plan for the worst, that’s what farmers do. Would be nice to have council show an ounce of support, but not likely, in light of the other heavy hitters that soak up the spare change every year – some are on tonight’s agenda. Yes, I’m negative.
You are right, NoWay, enough of those laughing children, music, cows lowing, swirl of lights and activity…just too damn much of that here in PG. Those damn noisy fireworks are just the worst. So happy that PG is one of the few Cities this size without them!
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