The following is the statement delivered by CEO Mike Tate to Regina City Council’s Executive Committee on April 29, 2026.

The Regina & District Chamber of Commerce — representing 1,300 business members — expresses strong support for the proposed transaction between the City of Regina, REAL, and Brandt Properties Ltd., as outlined in report EX26-39.

The Chamber has been direct with this Council over the past year about the fiscal pressures facing Regina’s business community. During budget deliberations, we raised serious concerns about the sustainability of rising municipal costs and made the case that the most durable path forward is not simply managing expenditures — it is growing Regina’s tax base and attracting meaningful private investment. The proposal before you today is a direct expression of that principle — and it’s transformational.

Regina effectively has one pre-existing taxpayer. When the City absorbs ongoing operating shortfalls, deferred maintenance, and capital obligations at the REAL campus — costs running at over $10 million annually — that burden lands on the same residents and employers, year after year.

City Administration has been clear: there is no capital plan and no funding source to address the infrastructure deficit on a campus where buildings average 45 years of age. The five-year comparison in this report is stark — the status quo costs taxpayers an estimated $97 million over five years. This proposal reduces that to approximately $18 million. That’s beyond meaningful.

This proposal changes the equation by bringing private capital to bear on a public problem. Brandt is contractually committing to a minimum of $15 million in investment within 24 months of closing, and is assuming the operational, maintenance, and financial risk of the purchased assets. Not if — but when — buildings require capital, it is Brandt, not the taxpayer, who is responsible. Reducing the $10 million annual REAL subsidy and redirecting those savings toward core services and City priorities is exactly the kind of fiscal rebalancing the Chamber has been advocating for.

From a job creation and economic standpoint, the potential is real. Brandt’s stated business plan is oriented toward increasing the number of events on campus. More events mean more economic activity — hotel nights, restaurant visits, local spending by attendees. Chamber members across hospitality, food and beverage, retail, and professional services will benefit directly. This is private sector investment that expands the tax base without requiring ongoing public subsidy.

We are also encouraged that community access is protected. Contractual obligations and proposed zoning amendments ensure the campus continues to serve its primary purpose — sport, entertainment, culture, agribusiness, and conventions. Private ownership does not mean the public loses these assets — it means they have a better-resourced operator accountable to deliver on them.

The alternative — subsidizing aging infrastructure with no plan and no end in sight — carries its own costs, both financial and competitive.

In closing: our members have been telling us this clearly. In our most recent survey, the top priorities identified were advocacy on taxes and affordability, reducing the cost of doing business, and finding ways to grow Regina’s economic base. Members have been explicit — they want the Chamber pushing for private investment in this city, they want the municipal tax burden addressed, and they want Regina to compete more effectively for business and events.

This proposal speaks directly to all three of those priorities. It reduces a significant municipal liability, it delivers private capital, and it creates conditions for more economic activity in a city where our members operate.

Regina needs private investment. This proposal delivers it. Time kills deals — and we are fortunate to have this one on the table. We encourage Council to approve the recommendations before you