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January 1998 | October 1999 October 1999 Newsletter SPECIAL ISSUE" EXCITING FUTURE PLANS!! Dear Friends, This is a special newsletter, bringing you good news about the present Community Centre and exciting plans for the future. Current Financial picture: The present tenant has a long-term lease, is making improvements to the general condition of the Community Centre and is also interested in buying the building at market price at the end of the lease. Overall, we are in good shape. We are now in a position to plan the future Community Centre, as discussed at the Annual General Meeting held in May 1999. Future Community Centre: We have established an Adhoc committee consisting of the President and one other member from the Board of each of various Indo-Canadian cultural and professional organizations. The mandate of this committee is to advise the ICCC Board in the planning of and fund raising for the new Centre. The new facility will be run as a club, by a professional manager, under the management of the ICCC Board of Directors. The new Centre is planned to be constructed in two phases. Phase 1:
After construction with real-estate brokers and architects, it has been estimated that Phase 1 will cost approximately $3 million and Phase 2 will cost approximately $2 million. Since we plan to have a mortgage-free new Centre, we must raise enough funds to make this happen. We are fortunate to have withing our community, several successful business people who are willing and able to help us to realize our dream of a grand new Centre. As well, we have an experienced and dedicated Board of Directors that is committed to realizing this goal. There are about 4000 Indo-Canadian families in the National Capital Region. We need a commitment of at least $1000, average, per family and which can be paid over a period of 3 years (a $1000 commitment amounts to less than $1 a day). We know that there are many families who have the resources to contribute larger amounts quite comfortably. Please note that tax receipts will be provided for all donations in excess of $25. Upon completion of Phase 1 of the new Centre, the existing centre should be sold. It is estimated that the proceeds of the sale and surplus built up over three years could fetch up to $500 000. These funds could be utilized to furnish and decorate the new Centre such that we have a top-notch facility in the National Capital Region. We need your support, suggestions and commitment to achieve the new Centre! Please provide us your comments and help us by answering the questions at the bottom of this page. Please provide your response by latest November 25, 1999. Thank you for your co-operation. Let us all participate in this project. Let us move forward together and create a grand Community Centre to serve us in the new millenium! We look forward to working collectively as a community to successfully achieve this objective. Nityanand Varma President of ICCC |
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