Council beefs up support for the Active Thames 2018 project
Council beefs up support for the Active Thames
2018 project
The future of recreational facilities in Thames received a boost from Council today.
"Council approved the underwriting $390,000 of community pledges, providing additional financial security for the Thames Indoor Sports Facility component of the Active Thames 2018 programme," says Greg Hampton, Area Manager for the Thames and Coromandel wards.
The underwriting of community pledges provides additional confidence that the cost of construction can be met, and acknowledges and mitigates the risk of receiving less than the full amount of pledge contributions over the five year term. Sponsor pledges are staged over a five year term to allow a larger number of sponsors to give more toward the projects than possible in a single year.
The Indoor Sports Facility is part of the Active Thames 2018 programme of investment into improved recreational facilities for Thames. Future projects include a new skate park (2016), replacement grandstand/clubroom facilities for Rhodes Park (2018) and improved aquatic facilities for Thames.
Funding of the Active Thames 2018 projects comes from multiple sources: Council, Thames High School (for the indoor facility), public grants, and local business and community sponsors.
"Fundraising has been highly successful to date, reflecting a high level of support from the local community, businesses and public grant funders. As at this month, Council and the Active Thames 2018 fundraising committee has generated sponsor pledges and grants in excess of $1,680,000," says Mr Hampton.
The successful collection of sponsorship pledges for the Thames Indoor Sports Facility project will give Council confidence to continue to back the future projects within the Active Thames 2018 programme.
Go to www.tcdc.govt.nz/thamessportsfacilities to find out more about this project and a list of all the sponsors and pledges so far.
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