City council is still looking at two funding requests, one for $2 million from Red Deer College and one for $60,000 from Central Alberta Theatre (CAT).
Both requests were on City council’s agenda on Monday, but both were tabled to the Oct. 29 meeting. They were put off because the City is waiting to receive additional information on the RDC request and a more detailed solvency plan from CAT.
CAT, founded in 1970, is facing serious financial problems and asked for the $60,000 as emergency operating capital. Without this bridge funding, officials with CAT have said, it will be forced to turn over operation of the Memorial Centre to the City.
The funding for RDC, which the City has partnered with on projects previously, involves commemoration of the College Arts Centre’s 25th anniversary, the 50th anniversary of the College itself and Red Deer’s centennial. The City’s contribution would be used to leverage provincial grants and community contributions for an Arts Centre technology expansion, growth of the downtown Donald School of Business, expansion of the Library Commons and a proposed partnership with CAT to enhance the City Centre stage.