FINANCIAL_SERVICESAPPROVED

Town of Okotoks Regular Meeting Highlights May 11 2026

Okotoks approves loan for pickleball and tennis centre

Up to $500,000 in 2026; potential additional lending up to $0.800M for outdoor courts to be considered in 2027 budgetTown of OkotoksOKOTOKS PICKLEBALL & TENNIS CENTRE SOCIETYMay 11, 2026

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Description

The Town of Okotoks Council approved a municipal loan of up to $500,000 in 2026 to The Okotoks Pickleball and Tennis Centre Society to complete indoor components of the new facility, to be repaid over 10 years at 0.5% interest. Council also asked Administration to bring any proposed additional lending up to $0.800M for outdoor courts forward during the 2027 budget process.

Contract Details

Contract Amount

Up to $500,000 in 2026; potential additional lending up to $0.800M for outdoor courts to be considered in 2027 budget

Vendor

OKOTOKS PICKLEBALL & TENNIS CENTRE SOCIETY

Agency

Town of Okotoks, Canada

Contract Type

FINANCIAL_SERVICES

Document Date

May 11, 2026

Contract Term

Repayment through 10 annual payments; interest rate 0.005 per annum

Renewal Info

Loan structured as 10 annual payments with 0.5% annual interest; potential future additional lending for outdoor courts to be considered in 2027 budget deliberations.

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