A rendering of the planned Keyano art gallery, sent to media by Keyano College on Tuesday, November 26, 2019.
Keyano’s controversial and ambitious art gallery project has been cancelled by the college’s board of governors.
The project, which officially died at a Sept. 30 board meeting, would have cost $16.8 million and included an international art gallery, ceramics studio, and renovate a former gym into flexible studio spaces.
“Given the current situation with a global pandemic, the fiscal realities of the college and the aftermath of the Fort McMurray Flood, there are other priorities that need to be addressed at this time,” said interim Keyano CEO Dale Mountain in a statement. “We feel the funds would be better utilized by the RMWB in other areas.”
Keyano’s board decided the project was “not fiscally prudent” at this time, citing the global collapse in oil prices and the economic fallout of COVID-19.
Wood Buffalo’s council approved funding the project during budget talks in November 2019. The college, however, was required to reach an agreement with the provincial government, hold public engagement meetings and find additional sources for funding.
Former college president Trent Keough, who presented the project, warned he would have to shut down Keyano Theatre if funding was not approved. It is unclear what the college’s next steps are for other expansion projects, such as an ACAC hockey team.
“This decision makes sense, as with challenges related to the pandemic, flood, and current economic circumstances, it is unlikely the project would have been feasible,” said Mayor Don Scott in a statement. “Keyano College has been a cornerstone in this community for decades and their long-term sustainability and service to Wood Buffalo is an important part of this region’s future.”
Even before the current economic crisis, Keyano was in rough financial shape.
Prior to the COVID-19 pandemic, Keyano began cutting $3 million to balance its budget before the start of the 2020-21 academic year. So far, 32 staff members have been laid off permanently.
In March, Advanced Education Minister Demetrios Nicolaides said he was concerned Keyano could not afford the art gallery project. He pointed to the fact Keyano could not support its theatre, which costs was concern the theatre couldn’t be supported, which comes with an annual operating cost of $2 million.
The following month, flooding caused $48 million in damages at the college.
– With files from Vincent McDermott
lbeamish@posmedia.com
