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Council to discuss ranch relief request

Aug 21, 2020 | 8:31 AM

Vernon council will make a decision next month on a request for assistance by the society that runs the Historic O’Keefe Ranch.

The Historic O’Keefe Ranch and Interior Heritage Society is asking the city to defer a $70,000 loan repayment and insurance payments for two years, and to change a requirement for a comprehensive audit in 2020.

Mayor Victor Cumming said the ranch’s cash-flows are down dramatically, similar to other groups that can’t have large crowds or major events during the Covid pandemic.

“They’re just looking for us to delay the repayment, and that’s fine. They’re not looking for additional resources. They’re just looking for a delay given the significant impact on tourism operations from Covid, and that decision will be made in mid-September when it comes back to council,” Cumming told Vernon Matters.

The society has told council, without some help the society may collapse before the year is out.

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The society is requesting council support to:

1. Defer a $70,000 promissory note from October 16, 2019 to December 31, 2022;

2. Defer insurance payments for 2019, 2020, and 2021 to December 31, 2022;

3. Change the requirement of a comprehensive audit to a review engagement for the 2020 season.

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