SpongeG
05-08-2007, 12:22 AM
It’s been a rollercoaster ride for years. But construction is forging ahead finally on Terrace’s $8 million Sportsplex structure now that funding arrangements appear to be organized.
It’s been a long term plan to create a second sheet of ice and other facilties in the northwest British Columbia city. The need and desire for the project have always been there. But taxpayers have baulked at the cost of early proposals and the project has been forced back to the drawing board for comprehensive tweaking.
Latterly, funding sources have been the main stumblingblock. Terrace, like other small and mid-size communities in B.C. know only too well it requires imagination and persistence to secure a workable financial package for an estimated $8 million infrastructure project.
The City of Terrace, as driver of the Sportsplex project, is reluctant to look directly to the local taxpayer base for funding, based on past experience. Instead, the provincial/federal infratructure program has contributed $2 million to the project and the provincial government has kicked in another $1 million through another program it offers. The Northern Development Initiative Trust has loaned $3 million to the project. The rider there is $2.5 million of it has to be repaid during a 10 year period. The trust was created in 2004 with $135 million from the sale by the provincial government of BC Rail to CN. The trust aims to support economic development and diversification at the regional and local levels across northern B.C.
The balance of the Sportsplex funding comes from a city account ($700,000) and donations, with Alcan - $450,000 - being the largest philanthropist. Other smaller donations, totalling about $250,000 have been pledged but not all collected. The City of Terrace launched a donation campaign in April with a goal of $400,000 to help meet the shortfall.
Further complicating the city’s financial situation, is a plan to invest $1.2 million into its aquatic centre. The funding picture for that phase should become clearer this summer when the results of Terrace’s application for a rural infrastructure grant from the provincial government are known.
One of the ways Terrace has sought to keep control of costs on the Sportsplex is tendering the project in small components, most of which can be bid on by local and regional contractors.
The Sportsplex building, which will also contain multi-purpose rooms, is scheduled for completion in late summer. General contractor is Genuine Contracting Ltd., of Terrace. Wayne Aussem of North American Ice Development in Vancouver is project co-ordinator.
http://www.journalofcommerce.com/article/20070507300
It’s been a long term plan to create a second sheet of ice and other facilties in the northwest British Columbia city. The need and desire for the project have always been there. But taxpayers have baulked at the cost of early proposals and the project has been forced back to the drawing board for comprehensive tweaking.
Latterly, funding sources have been the main stumblingblock. Terrace, like other small and mid-size communities in B.C. know only too well it requires imagination and persistence to secure a workable financial package for an estimated $8 million infrastructure project.
The City of Terrace, as driver of the Sportsplex project, is reluctant to look directly to the local taxpayer base for funding, based on past experience. Instead, the provincial/federal infratructure program has contributed $2 million to the project and the provincial government has kicked in another $1 million through another program it offers. The Northern Development Initiative Trust has loaned $3 million to the project. The rider there is $2.5 million of it has to be repaid during a 10 year period. The trust was created in 2004 with $135 million from the sale by the provincial government of BC Rail to CN. The trust aims to support economic development and diversification at the regional and local levels across northern B.C.
The balance of the Sportsplex funding comes from a city account ($700,000) and donations, with Alcan - $450,000 - being the largest philanthropist. Other smaller donations, totalling about $250,000 have been pledged but not all collected. The City of Terrace launched a donation campaign in April with a goal of $400,000 to help meet the shortfall.
Further complicating the city’s financial situation, is a plan to invest $1.2 million into its aquatic centre. The funding picture for that phase should become clearer this summer when the results of Terrace’s application for a rural infrastructure grant from the provincial government are known.
One of the ways Terrace has sought to keep control of costs on the Sportsplex is tendering the project in small components, most of which can be bid on by local and regional contractors.
The Sportsplex building, which will also contain multi-purpose rooms, is scheduled for completion in late summer. General contractor is Genuine Contracting Ltd., of Terrace. Wayne Aussem of North American Ice Development in Vancouver is project co-ordinator.
http://www.journalofcommerce.com/article/20070507300
