| As the dust settles from this year's event, the Calgary Stampede is taking steps to acquire additional land for a proposed $123 million three-phase expansion. The budget includes land acquisition which is expected to cost up to $22 million. The expansion was first proposed several decades ago.
The existing fair site is located near downtown Calgary. News reports in the Calgary Herald state that the Calgary Exhibition and Stampede plans to acquire land from 27 owners holding land in eight blocks that lie between 12 Ave. SE and 14 Ave. SE. This will permit northward expansion of the existing site.
The Stampede's plan is to make written offers to purchase to each property owner which invite a response by August 15th. Stampede president Roger Jarvis has said that the property owners will be offered fair market value. Realtors have been hired to assist the Stampede.
While the Stampede hopes that acquisition can be completed voluntarily, the City's expropriation powers may be used where owners are unwilling to sell.
Officials hope the expansion will be complete in time for Alberta's centennial celebrations in 2005. |
