Pitt Meadows Secures Arenas

February 11, 2009

CITY OF PITT MEADOWS
Press release

FOR IMMEDIATE RELEASE
February 11, 2009 #2009-03
For further information, call
Mayor Don MacLean 604-465-2416

PITT MEADOWS SECURES ARENAS

Pitt Meadows B. C . - The City of Pitt Meadows, Citizen's Bank and the Receiver for the Ridge Meadows Arena Society have reached a settlement with respect to the ownership of the Pitt Meadows Arena, its equipment and all litigation concerning the Arena. Under the agreement, the City will pay Citizen's Bank and the Receiver a total of $1.35 M. The settlement ends months of uncertainty concerning the ownership and future of the facility.

Mayor Don MacLean, in commenting on the acquisition, was delighted that the settlement now allows the City to begin the process of securing a long term operating agreement. "Throughout this process Council has focused on the importance of the Arenas in meeting the needs of citizens and amateur sport organizations, like Minor Hockey. The City is committed to making suitable facilities available within our community for the many programs run by minor sports groups and Maple Ridge and Pitt Meadows Parks and Leisure Services. This is why the facility was initially constructed on City owned land and why the volunteer directors of the Ridge Meadows Arena Society attempted to continue the operation of the Arena after CDI Enterprises Ltd., the original operator, was placed into receivership. The City is still grateful for their efforts on behalf of our citizens."

Kelly Swift , Director of Recreation, thanked all the user groups and the interim operator, Recreation Excellence, for their patience and support over the past 18 months. "We look forward to beginning the process of developing a long term operating arrangement which will lead to facility upgrades and the provision of services which will fully meet the needs of citizens. Council has directed that staff explore all possible grant opportunities and consult with the Parks and Leisure Services Commission, the Ridge Meadows Arena Society directors, user groups, Recreation Excellence and local business advisers with a goal of making the Arenas the best that it can be.

Thousands of local and regional users visit this facility annually. The original twin rink was built in 1992. Today a similar facility would cost a minimum of $12M to construct. "When you can obtain a facility for 10-15% of the cost to build a new facility plus the cost of necessary upgrades, it becomes a very attractive opportunity" added Mayor MacLean.

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Pitt Meadows Secures Arenas

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