A proposed funding agreement between the city, the
Argyll Velodrome Association, and
World Triathlon Series Edmonton would see the two partner organizations contribute $4 million in capital funding to the
Coronation Park Sports and Recreation Centre, which is currently under construction. Should the organizations not be able to raise the funds, administration suggests using self-supporting tax-guaranteed debt, the servicing of which would be funded by future lease revenues charged to the two organizations. The report also suggests that the facility’s cycling track, weight-lifting and warm-up space, running track, and link to the Peter Hemingway Fitness and Leisure Centre will all be considered for name sale under the Facility Name Sale Policy C477A. Construction on the facility was 25% complete as of December 2022 and is anticipated to be complete in 2026.