HomeMy WebLinkAboutCS-10-91 y
� �"" 'µ y.-, TOWN OF NEWCASTLE
., .1"`'' REPORT File #r ( ,
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"14- ''r�': : -�. By-Law #
NESTING: GENERAL PURPOSE AND ADMINISTRATION
DATE: MARCH 4, 1991
REPORT #: CS-10-91 FILE #:
SUB.LCT:
SKATE '88 - FUNDRAISING COMMITTEE
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose &
Administration Committee recommend to Council the following:-
1 . That Report No. CS-10-91 be received;
2 . That the request of Skate '88 to transfer $175,000 from the
Parkland Reserve Fund to the Arena Fund not be approved; and
3. That a copy of report CS-10-91 be forwarded to the Skate '88
Fundraising Committee.
1.0 BACKGROUND:
1.2 At its meeting of January 28, 1991 Council approved the
following resolution C-42-91 "That the request from the Skate
'88 Fundraising Committee to transfer one hundred and seventy-
five thousand dollars ($175,000) from the Parkland Reserve
Fund to the Arena Reserve Fund be received and referred to the
Director of Community Services and Treasurer for review and
report to General Purpose and Administration Committee. "
. . /2
' ) j
REPORT NO. CS-10-91 — 2 — MARCH 4, 1991
2 . 0 REVIEW:
2 . 1 Subsequently, the request for transfer of funds was reviewed
by the Director of Community Services in consultation with the
Treasurer.
2 .2 It should be noted that the original funding scenario for the
construction of the Bowmanville Recreation Complex proposed
that upon the sale of the old arena an amount of $175,000 be
allocated to the project. As members of Council are aware,
the property has not been sold.
2 .3 It is further noted that $434, 300 . was allocated from the
Community Services Department's reserve funds and a further
$500,000 from municipal reserve funds, reflecting a total of
$934,300 . being contributed from the Town's reserves .
2 .4 In addition, a grant of $312,000 was projected from the
Ministry of Tourism and Recreation, however, an addendum to
that original amount was submitted and approved, increasing
our Ministry grant to $625,000 .
2 .5 Further, a re-allocation of $175,000 from the parkland reserve
fund could jeopardize further projects which have been
identified in the department's five year capital forecast.
2 . 6 In addition to the above, it is noteworthy to mention that
the Community Services Department has continued to invest in
this project evident by the 1990 phase II development of the
Ball Diamonds which contributed reserves totalling $299 ,000 .
2 . 7 The 1991 Capital Budget also identifies a Phase III commitment
of reserves totalling $275,000 pending Council approval.
. . /3
REPORT NO. CS-10-91 - 3 - MARCH 4, 1991
3 . 0 CONCLUSION:
3 . 1 Having reviewed this information, staff does not recommend the
transfer of additional funds from Community Services
Department reserves as requested by the Skate '88 Fundraising
Committee.
Respectfully submitted, Recommended for presentation
to the Committee,
(L --®
Joseph P. Caruana, Director Lawrence r Kotseff
Depai'tment of Community Services Chief A411 ' , istrative Officer
Marie Marano, Treasurer
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ATTACHMENT TO REPORT
# CS-10-93
MO, ,
Vtio
Tendered Package Total $4,448,700.00
Land 225,000.00
Services: Hydro 7,000.00
Gas 10,000.00
Water 470,000.00
Permits 500.00
487,500.00
Professional Service:
Design 220,000.00
Inspection 12,000.00
232,000.00
$5,3931200.00
Provincial Grant $180,000.00
Wintario Grant 312,000.00
Sale of Old Arena 175,000.00
Lot Levy Community Services 434,300.00
Arena Reserve 338,749.00
Municipal Reserve 500,000.00
Debenture 2,352,651.00
Voluntary Fund Raising 1,100,000.00'
$5,3931200.00
Let's Build It Together
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