Thunder Bay’s New Event Centre Making Progress
by Scott A. Sumner
www.thunderbaybusiness.ca
Thunder Bay’s new event centre is moving along nicely in the planning stages. There were two open houses held recently to discuss the proposed event centre including potential sites and the configuration of the building.
“ We are going to do a feasibility study on a short list of sites where business models and funding options will be discussed. What we are trying to do is narrow the scope of the project down so we can study it in more detail. This allows more feedback and helps form the
project and process. Size, location and business model need to be discussed,” said Tim Commisso, City Manager. “ There are a number of pieces to the project. One of the positives is that council started to put some money aside in Renew Thunder Bay. We are identifying
$25 million out of this fund for this project. The city’s share is available which is good.”
The Fort William Gardens has had its 60th anniversary and we need to look forward according to Commisso. “ We want a facility that brings the community together, celebrates who we are and can set the bar for Thunder Bay to attract events here. Sports will be a big component of that,” said Commisso. “ The key to the project is to limit the amount of debt or debentures. If you do that you could operate the building efficiently with no more of a subsidy that the Fort William Gardens has now, $600,000 per year. You also need to put money aside to provide for the capital renewal on the project.”
“ I can see us doing a community wide survey on this project. We are talking another year before we have a final decision on a project like this. We are a city of 110,000 people with an immediate population area of 125,000 and region of 250,000 people. We have enjoyed the benefits of an event centre for 60 years already with the Fort William Gardens. What we are looking for is the next generation. Right now we do 50 to 55 events per year. A new facility might draw 100 to 150 events. In Duluth they are expecting 58,000 delegates to come a year to their
facility and estimate the economic impact at $25 million annually. This is what we could have. It has to be affordable and something the community wants. We are looking at 145 events per year with the convention space usage as well.”
Commisso feels the financials of the project are doable. “ We have $25 million set aside in an interest earning reserve fund. We are hoping we can get the federal and provincial government in for between $20 to $50 million. We are also anticipating the private sector can be involved. The reality of it is the city’s money has to be leveraged and be no more than 35 to 40 % of the total project. I think that is what RENEW Thunder Bay is about. Thunder Bay has a great history in being able to leverage projects. We think it is reasonable that the Federal and Provincial governments become involved. We are looking at making an application to the federal government.,” said Tim Commisso.
