March 13, 2019 Update - Town Hall Meetings
January 30, 2019 Update - Town Hall Meetings
What is the problem?
On September 19th a brine leak was discovered – over the course of one week, 300 L of brine (the refrigerant) had escaped. The leak was not in the ice plant room or in the header trench – the conclusion of the Ice Technician and refrigeration/ice professionals was that the leak is in the piping in the concrete floor – in the Ice Pad that is long past life expectancy.
Our Ice Plant is well maintained but is very old – our backup compressor was part of the original plant in 1953 and many parts in the plant are well past their normal lifecycle. Today’s plants are extremely energy efficient and could save almost 50% in utility costs.
What is the solution?
We need to build a new Ice Pad. We are able to build over the existing Ice Pad by leveling the floor slightly, adding insulation and adding piping and concrete. It is important to replace the Ice Pad this year – otherwise we have a risk of a much larger leak next year that cannot be mitigated and could cause us to close the Barrie Curling Club for one season or longer. The cost of the Ice Pad is $400,000.
We need to replace the aging plant. Although it is possible to replace parts as they breakdown, by replacing the plant our Operations and Maintenance costs are decreased substantially. The cost of a new plant is $500,000. The estimate is accurate but preliminary – there is a chance we may be required to move the plant out of its existing location to meet new Ontario Codes.
What is the fundraising strategy?
- The Ice Pad – by February 2019 we are required to finance $400,000 to build a new Ice Pad over the summer. At a minimum, members must raise $200,000 to enable us to finance an Ice Pad where we could use our reserve fund and a loan to build the Ice Pad. There are additional avenues for resources we are working on, but we cannot count on the resources – as members we need to be accountable for the Ice Pad.
- The Ice Plant – by April 2021 we are required to finance $500,000. Members must raise $300,000 to enable us to finance the Ice Plant. Again, there are additional avenues for resources, but cannot be counted on.
This is the first large capital fundraising in over 30 years, and the BCC must lifecycle manage all future Ice Pad, Ice Plant and other infrastructure work moving forward.
How are we Fundraising?
Member contribution by:
- Donations to the Ice Pad and Plant Capital Improvements through the National Sports Trust Fund (NSTF). Donations through the NSTF are a charitable donation for which the CRA will provide a tax credit (against tax owing).
- Employer contribution matching – some employers will match employee contributions; or donate to a charity where employees have provided volunteer hours.
- Membership donation matching. A few members are matching member contribution – for example, match 5% or 10% of what members contribute through events and donations to the NSTF.
- Additional events – bonspiels, committees, silent auctions, and more.
- Participation of members on the Capital Fundraising Committee
Capital Fundraising Committee seeking financing through:
- Sale of building naming rights.
- Government grants (e.g. Trillium Foundation). The brine leak was discovered one day after the annual deadline for the capital grant application – we will apply for the Trillium Grant for the second phase.
- Local business donations and/or additional revenue.
- Government grant and/or financing.
- Shareholder members who have a connection to the BCC.
Charitable Donations – Tax Credit
The donation to the Ice Pad and Plant Capital Improvements through the NSFT is a charitable donation. In Ontario, tax credits are calculated as follows:
- First $200 donated: Tax credit is 20.05% (15% Federal and 5.05% Ontario)
- Over $200 donated: Tax credit is 40.16% (19% Federal and 11.16% Ontario)
If you donate…
- $100 then the tax credit is $20.05
- $500 then the tax credit is $160.48
- $1,000 then the tax credit is $361.38
- $5,000 then the tax credit is $1,967,78
Note – charitable donations are not a deduction but a tax credit – a deduction on tax owing. The tax credits are examples and the credit may be greater if you have other donations. We are not providing tax advice and personal circumstances differ. Please consult your tax or financial professional, CRA and/or Canada.ca.
What is the current “ask”?
If we require $200,000 to get a chance at financing; and we have just over 500 adult curlers currently registered. That makes the ask at $400 per adult curler. With a tax credit, the amount that could be reduced to $260 to $280 (depending on whether or not you donate to other charities). That comes to well under $1/day for a year.
We realize it’s a big ask and some people may not be able to afford that amount; but others may be able to help out even more. Together, we can keep curling alive at the BCC for another 140 years!
Give us ideas or even join the Capital Fundraising Committee
Be a part of our team and join the Capital Fundraising Committee – contact Haus or Melanie to join our team.