Penticton city council inked a formal agreement to host the 2017 ITU Multisport World Championships at Tuesday's council meeting.
(STEVE ARSTAD / iNFOnews.ca)
February 09, 2017 - 4:30 PM
PENTICTON - The city has signed a deal to host the Multisport World Championships Festival next year.
Penticton city council and Penticton 2017 ITU Multisport World Championships Ltd. have formally signed off on terms for the 2017 festival.
The city will provide $250,000 in funding for the festival, made up of $125,000 in cash and $125,000 in value-in-kind services, which includes such things as park rentals, washroom use, post-event clean-up, use of city buildings and other services.
The agreement was formalized by council at Tuesday’s regular council meeting following approval of the terms in a resolution to back a bid from organizer Michael Brown in March, 2015.
The 10 day festival is expected to generate $15 million in economic activity in the city, including as many as 40,000 room nights.
Up to 5,000 athletes and 7,000 visitors are expected from 50 countries as athletes vie for championship status in six events including long distance triathlon.
The event is scheduled to take place Aug. 18 to Aug. 27, resulting in rescheduling of the annual Challenge Penticton to July 23, 2017.
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News from © iNFOnews, 2017