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Fundraising for Len Lye Centre Reaches Council Target

6 March 2014

Fundraising for Len Lye Centre Reaches Council Target

The New Zealand Lottery Grants Board today confirmed a grant of $2.695 million for New Plymouth’s Len Lye Centre, ensuring that the $10m budget for constructing the centre plus $1.5m for fit-out of both the centre and its cinema will be met through external funding.

Mayor Andrew Judd says: “This is good news. The Council’s intention has always been to remove the need for rates or borrowing to fund construction and fit-out and I am pleased we have achieved this goal.

“It has been a great effort from all parties involved including Council staff, the Len Lye Centre Trust and the Len Lye Foundation.

“We must also recognise the generous contributions of our funders – central government, Todd Energy, the TSB Community Trust and private donors. Without their support and belief, this project would never have been possible.”

The lotteries funding not only removes the need for rates or borrowing to build and fit out the centre, it also means the Council will not have to call upon a TSB Community Trust underwrite pledged in 2012 to cover construction and fit-out costs not funded from other external sources.

Chief Executive Barbara McKerrow says: “The Council has been clear in its desire to build and fit-out the Len Lye Centre without burdening ratepayers and I am delighted that we have been able to deliver on this through an outstanding fundraising effort.

“However, reaching the fundraising target does not lessen our commitment to finding alternative sources of revenue and maximising efficiency at the combined Govett-Brewster Art Gallery and Len Lye Centre.

“Nor will we stop the fundraising drive to make this new community asset the best it can possibly be when the doors open for business next year.”

Len Lye Centre - the numbers

Cost of construction and fit-outFundraising to date
$10m – construction of new building$1m – TSB Community Trust, committed in 2009
$1.5m – fit-out of centre and cinema$4m – Ministry for Arts Culture and Heritage Regional Museum Policy Fund, 2011
$0.5m – Lotteries’ Environment and Heritage Fund, 2011
$3m – Sole Founding Partner, Todd Energy, 2011
$0.305m – private donors as of March 2014
$2.695m – Lotteries’ Significant Projects Fund, March 2014
Total : $11.5mTotal : $11.5m

Part of a wider project
The Len Lye Centre is one part of an overall project totalling $16.928m. In addition to the $11.5m budgeted for the centre, the Council is using depreciation funding of $5.428m for earthquake strengthening, deferred renewal work and Building Code requirements at the neighbouring Govett-Brewster Art Gallery. All work was tendered in a single contract to minimise cost.

The new contemporary art museum, combining the Govett-Brewster Art Gallery and Len Lye Centre, is due to open in 2015.

ENDS

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