A major piece of Ponoka history that just wasn't bringing in the bills anymore has been sold.

Mayor Rick Bonnett and councillors decided to accept an offer to purchase the Kinsmen centre downtown for $510,000 from Cash Foods Ltd.

The amount was more than the appraisal and he says it was the smartest move.

“It was donated by the kinsmen club back in the ’60s and ’70s and it’s in need of actual expansion.”

The centre located near downtown was sold to Jim Hamilton, owner of the IGA who has plans to expand his store and open new retail spaces.

“He’s moving his liquor store in to there from his original building and as well as putting on some additional office spacing and other possible businesses that could go into there.”

Explains Bonnett who says that this move was probably the smartest possible for taxpayers.

According to the facility usage records for 2018 half of last year’s booking for the centre were used for town hall meetings and open houses.

Not only that but with other places in town available for use it made sense to let this one go according to him.

Not to mention the operating deficits between $5,000 and $10,000 that were racking up.

“We have a whole bunch of other facilities in town that do basically the same thing for weddings and dances and stuff like that so it was either to expand this building and do an upgrade to it or let it go.`

Bonnett says they are always working on bringing more economic activity to Ponoka's downtown, and liquidating properties that are losing money and are underutilized is one of the best ways.

However, before Cash Foods can begin developing the property, it will be required under the sale and construction agreement to apply for subdivision of the Kinsmen Community Centre property from the adjacent Seniors Centre building and land which is also owned by the Town.

“It’s going to be quite an expansion in that area,” says Bonnett.

Following subdivision, application and approval for development and building permits will also be required.