Funding of New Dehumidifier

As previously advised, our current dehumidifier finally quit working 30+ years after being installed at the club. The dehumidifier is an important element in making quality ice for a curling club. The total cost of the replacement equipment is approximately $60,000 including HST, installation and safe disposal of the old unit. Our maintenance team has recommended that we purchase a desiccant style dehumidifier to replace the current refrigeration style unit based. The desiccant technology is far more environmentally friendly, easier to maintain and has much lower annual operating costs.

To date, the club has raised over $15,000 towards the purchase of the new equipment through the diligent efforts of our Fundraising team ($10,000) and a $5,000 Ontario Sports Network grant. As well, we are have applied for a $30,000 loan from Curling Ontario (CurlON). Our current efforts for funding of the new dehumidifier stand as follows:

Equipment Purchase, Installation, HST and Removal of old unit $60,000
Curling Ontario (CurlOn) loan – 5 year payback ($30,000)
Fundraising specifically for new dehumidifier purchase ($10,000)
Ontario Sport Network (OSN) Grant ($ 5,000)

Balance Needed to Fund (request for Matching Grant – LoB Township) $15,000

The Board has been in discussions with the Township of Lake of Bays for a grant in the amount of $15,000 – matching the internally generated $15,000 raised through Fundraising efforts($10,000) and the OSN Grant ($5,000). A small group will be presenting our request to the LoB Council on July 12th .

The CurlOn loan will need to be paid back over 5 years (plus interest) – year one costs
estimated to be $7,200, with slightly reduced amounts over the following 4 years. The Board is aggressively working on initiatives to generate increased revenues in order to minimize the impact of the loan repayment costs on Membership Fees. These initiatives include new Fundraising initiatives, expanded Rentals program, and Provincial and Regional Grants.

According to the club Constitution, all expenditures greater than $10,000 must have the prior approval of the General Assembly (Membership).

Therefore, the Board is requesting that the general membership approve the proposed financing plan – including committing to a loan of $30,000 from CurlON. If you are supportive of the above funding plan, please click on the ‘Yes’ button below.