The group behind the annual B.C. Northern Exhibition is hoping the city will wipe clean a $32,500 debt.
During Monday night's meeting, Prince George Agricultural and Historical Society president Alex Huber came before city council asking for forgiveness for the city-provided loan that was issued in 2010. The group, which hosts the more-than-100-year-old event every August, was also looking to be rid of the rent it pays for office space and for the CN Centre parking lot where it sets up a spring fair to coincide with Northern FanCon.
"We have made some great strides this year in getting our debt under control," said Huber.
This year, the BCNE made about $200,000 more than the 2014 edition, but is still carrying about $96,000 worth of debt from previous years.
"A large part of that was due to the increased attendance; as well, we got real lucky this year with the weather," Huber said.
But weather is unpredictable and a subsequent year of bad weather driving down attendance "would be devastating to our financial picture from which the fair might never recover unless we have forged a firm partnership with the city," he said.
This is the second time the association has come before council asking that the loan be forgiven, following a June 2012 delegation that was turned down.
The association borrowed $45,000 from the city to get them over the hump after a twin hit of having to settle a breach of contract lawsuit for $32,700 and a $20,000 cutback in provincial gaming grant.
It was handed out with a five-year repayment term with a three-per-cent interest rate.
The association has made two payments on the loan since then: a $9,000 payment in October 2010 and a $5,000 payment in September 2013, said finance director Kris Dalio.
Wiping away that debt and getting rid of the rent ($1,000 for office space in the Sport Centre building and $1,500 in utilities) would "show some initiative on the city's part and would also make us feel like we are part of the community - it reaffirms what we do is appreciated, that the city is a partner with the fair, in essence," Huber said.
Coun. Terri McConnachie, who was part of the last delegation asking for debt relief in 2012 as the long-time general manager of the Prince George Exhibition (as it was formerly known), was fervent in her support for the request.
"In my opinion, $32,500 is more than matched by the sweat equity and return on investment that the annual fair brings in terms of community opportunity, pride and tourism - hands down," McConnachie said. "And I know that following the success of the 2015 Canada Winter Games, this council expressed an interest in fostering events and having local events and celebrations."
The association's request was referred to city staff for more information in the new year. Among the options being floated on Monday night was to extend the repayment term of the loan.
Huber cautioned that if the fair was to change its structure to that of a for-profit event, it would be a different BCNE, comparing it to the Vancouver fair.
"It's a midway and $8 hot dogs and $6 lemonade and that's all it is, all that's left, if it comes down to the fair needing to change itself or reinvent itself as a profit entity," he said. "A bunch of things will get shaved off if we need to look to turn a profit."
