Donors come through for Leaside Arena

The following mail has been sent by Brook Biscoe, Arena Board Chair. He notes that local contributions have met the #2.5 million target to obtain City support:


Last night Toronto City Council approved the Leaside Arena Expansion Project as part of the 2012 city budget. The $12.5 million project includes a $7.5 million loan from the city and a $1.5 million loan from the province against future operating revenues, $1 million from the city in accelerated capital improvements, and $2.5 million raised by the local community.
As you know we undertook to have met this local fundraising target by the time city council voted on the budget. And I am pleased to say that we succeeded! Yesterday Expansion Committee Chair Paul Mercer and Fundraising Committee Chair Charlene Kalia confirmed that the $2.5 million cash-in-hand local fundraising target “to get a shovel in the ground” was achieved on Monday and that this information was formally passed on to city officials. Full letter here.