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By Corey Fischer
Cultural Centre Funding Strategy On Agen

Cultural Centre Funding Plan On Agenda

May 6, 2019 | 9:30 AM

Greater Vernon politicians will discuss a funding strategy for the proposed multi purpose cultural centre later this week.

The issue is due for discussion at Thursday’s Greater Vernon Advisory Committee meeting.

The public approved borrowing up to 25 million dollars for the facility last fall, but another 15 million dollars needs to be secured before construction can begin at a downtown Vernon site.

Regional District staff are proposing the remaining sum could be raised though a combination of infrastructure grants, partnerships, and donations.

“The approved funding strategy for the capital component of the Cultural Facility has $25 million being funded from borrowing, $6 million being funded from infrastructure grants (that are secured by the RDNO), $5 million from partnership contributions and $4 million from fundraising and donations,” writes Tannis Nelson, Community Services Manager for RDNO to the Grater Vernon Advisory Committee. ” The RDNO has already submitted an application to the Investing in Canada Infrastructure grant program for $23.57 million, which would significantly exceed the $6 million target.”

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