The Town of Ponoka is working on an agreement to transfer the land where the Ponoka Stampede is held to the non-profit association that organizes the event.
Although the two parties have worked in lockstep for many years, the town has always leased the land for a nominal charge to the Ponoka Stampede and Exhibition Association.
“By investing in the future success and growth of the stampede – Ponoka’s largest tourism attraction – the town expects to benefit from the increased economic impact that the stampede would provide to the community by continuing to host a major tourism event that attracts tens of thousands of visitors to Ponoka every summer,” said Mayor Rick Bonnett.
According to the release, the land transfer is intended to ensure the future growth and development of the stampede, as well as help with the creation of an area structure plan, which down the road will ideally lead to a stampede district.
That area could include camping and other attractions designed to bring visitors to the region.
In the release, the town noted the memorandum was to be signed Friday, and once the terms and details are agreed upon, public input will be invited.
“The intention is for the land to be granted to the stampede association. The agreement will include an emphasis on that land continuing to be owned and used for community purposes by the stampede association as a non-profit entity,” said Bonnett.
“For a town of 7,000 people, to have a major tourist event that attracts tens of thousands of people from across the continent and brings new money into our community every year, that’s something that’s worth investing in, and it’s a tourist attraction that other small towns would love to have.”
In the release, the town also noted that last year, the association spent close to $800,000 on operational purchases in the town, including performers, catering, tools and hardware, electrical and plumbing services, as well as office supplies.
It also spent $50,000 on property tax and utility costs in 2019, and about $42,000 on the Stampede Parade.
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