Council approves Downtown Event and Entertainment District funding strategy

Saskatoon City Council today approved a report outlining a funding strategy to continue to advance the Downtown Event and Entertainment District. The funding strategy does not require an increase to the property tax rate, rather it relies on a mix of funding sources, including public and private contributions, grants, user fees and other funding tools. 

“This is not about deciding to proceed with construction, but to get the project ‘shelf ready.’ It is direction by Council to pursue financial opportunities to support the potential Downtown Event and Entertainment District,” says Dan Willems, Director of Technical Services, Transportation and Construction. “It’s also noteworthy while this is approval of the overall strategy, the project still requires ongoing discussions with affected stakeholders and the other orders of government.” 

Willems says the Administration will now begin working through the details of the funding strategy and continuing to work with key stakeholders to create a fiscally responsible opportunity, with no impact on property taxes. Provincial and federal funding contributions will be necessary to bring this project to life and is a fundamental component of the funding strategy.  

He stresses the intended outcome is to have a shelf-ready project so when federal and provincial funding programs are available, Saskatoon will be ready to go.   

“There is no question, this project will have a broad provincial benefit, far greater than just the Saskatoon area,” Willems says. “Having a modern event and entertainment district in the heart of Saskatchewan’s largest city will be essential in maintaining, and enhancing, both Saskatoon and Saskatchewan’s competitive advantage. Today marks another important milestone in the journey to the District but there is still much more work to be done.”  

As work on the funding strategy goes forward Administration will bring progress reports back to Council. 

For more information on the Downtown Event and Entertainment District, including detailed information on the funding strategy, please visit saskatoon.ca/eventdistrict.