Funding options for planned upgrades at Lundar Arena are being explored by the RM of Coldwell.
Grettir Co-op Inc., operators of Lundar Arena, recently announced plans for $2.5-million in work to give the rink a facelift and re-brand it Lundar Community Centre. A Canada 150 grant of $500,000 was awarded for the proposed project, but upwards of $2-million still needs to be raised.
RM of Coldwell Reeve Brian Sigfusson says the municipality is looking at ways to fund the project. He expects additional grants, but the municipality will still most likely assume debt for the work.
“We seem to be losing all these things. If we can make a good place for people to come to, and bring their kids, I think it will be a huge plus for the area,” Sigfusson says. “...We're looking at a 15-20 year pay-down on this.”
Sigfusson says public feedback has been mixed about investing significant capital into Lundar Arena. But, he reminds, if they do nothing, the grant money will be lost.
“If we don't do something with the money we were granted within the year, we lose it,” he explains. “We're not given a lot of choices. And that's usually how these grants work: there is a timeline and you have to use it or have good progress in that timeline.”
See related story: “Lundar Arena Receives Canada 150 Grant”