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Regina’s Globe Theatre is once again facing a money crunch related to its renovation project, and is asking for a grant from the City of Regina to stay afloat.
Council is being asked to approve close to $1.4 million from the city’s General Fund Reserve to help the theatre meet urgent obligations and bills.
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The request was presented to the city’s Executive Committee during closed session last Wednesday, and the committee voted to send the recommendation to council for a vote at its upcoming meeting.
The report from city administration explains the request is directly related to the renovation project.
“According to the Globe, it has depleted its cash reserves to support the renovation capital costs, service project-related debt and pay current obligations,” it says.
“There are now also other urgent capital costs that cannot be addressed that could jeopardize the upcoming season.”
The amount of $1,386,000 would be put towards the highest-priority obligations, allowing the theatre to continue with its 2026-27 season as planned.
“Without immediate financial support, the Globe has indicated they will begin an orderly shutdown or significant reduction of operations,” the report adds.
The requested money is only to help stabilize operations, according to the report. It says the theatre faces total obligations of $16.3 million.
It also says the Globe is working on securing $12 million from the federal government, while $2.9 million would be covered from fundraising, sponsorships, gifts, and consultant cost reductions.
Administration told councillors the financial challenge is not due to attendance or ticket sales, and that if the organization can get its outstanding bills paid off, it has a future as a successful theatre.
It’s also recommending the grant be approved because it would protect the $8.58 million the city has already invested in the renovations.
But the report also cautions that the General Fund Reserve is at $21.3 million, below its minimum balance of $35.8 million.
Money in the reserve is meant to cover the impact of revenue and cost fluctuations and unexpected costs for emergencies.
The recommendation will go to council for a vote July 29.
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