Full fi­nan­cial ac­count­ing for public

Stanstead Journal - - NEWS -

Handed out to the public was an agenda con­tain­ing the his­tory of the orig­i­nal arena and an FAQ doc­u­ment con­cern­ing the Pat Burns Arena. It con­tained both the ques­tions or­ga­niz­ers felt were per­ti­nent to the public, as well as com­pre­hen­sive an­swers. The meet­ing fol­lowed this agenda while al­low­ing the public to pose ques­tions. In­cluded in the agenda were some of the more pub­li­cized is­sues, such as the le­gal own­er­ship of the old arena, the fi­nances and con­struc­tion process of the new arena, the el­e­va­tor, and the $25,000.00 do­na­tion the Stanstead Mu­nic­i­pal Coun­cil do­nated to the Pat Burns Arena in De­cem­ber, 2011.

The orig­i­nal quote sub­mit­ted by Roche Con­struc­tion in 2010, and ac­cepted by Town Coun­cil, was for $8,939,700.00. The con­struc­tion of rue Pat Burns, which leads to the arena, and its’ in­fra­struc­ture, cost an ad­di­tional $303,000.00. This was not fig­ured into the orig­i­nal con­struc­tion quote. Fur­ther­more, in ad­di­tion to the Roche Con­struc­tion amount, there were also ad­di­tional fees in­curred in ex­cess of the orig­i­nal quote which were the re­sult of se­cur­ing such nec­es­sary ser­vices as ar­chi­tec­tural, en­gi­neer­ing, qual­ity con­trol, project man­age­ment and ad­di­tional ma­te­ri­als. To date, the Pat Burns Arena has cost $9,863,374.81, which in­cludes taxes. Mr. Guil­laume Labbé, when asked by cit­i­zens to pro­vide a full fi­nan­cial ac­count­ing to the public for the arena’s con­struc­tion costs, promised to do so promptly. In re­gard to the re­spon­si­bil­ity for the project’s cost, it was re­it­er­ated that Stanstead Col­lege has of­fered a guar­an­tee to the Mu­nic­i­pal­ity to raise all funds as­so­ci­ated with the cost of the project.

Stanstead Col­lege is obliged to raise ap­proxi- mately $2,400.000.00 for their por­tion of the project not cov­ered by gov­ern­ment sub­si­dies. To date there re­mains a bal­ance of $1,600,000.00 to be raised on the part of the school to pay off the re­main­ing debt. The public was in­formed that Mu­nic­i­pal Coun­cil’s do­na­tion of $25,000.00 was, in ac­tual fact, do­nated specif­i­cally to help pay off the Col­lege’s out­stand­ing debt on the arena. It was also noted that the old arena, which re­sides on land orig­i­nally do­nated to the Town of Stanstead by the Holmes fam­ily for use as a chil­dren’s play area, legally be­longs to Stanstead Col­lege. Con­cern­ing the is­sue of hand­i­cap ac­ces­si­bil­ity, an el­e­va­tor was orig­i­nally in­tended to be in­stalled, but bud­get re­straints pre­vented its’ in­stal­la­tion at time of con­struc­tion, but the shaft was in­stalled in or­der to fa­cil­i­tate the in­stal­la­tion of an el­e­va­tor at a later date. Its’ ad­di­tion will re­quire that funds be raised in or­der to cover the cost of in­stal­la­tion.

The agree­ments be­tween the Col­lege and the Town con­cern­ing the Pat Burns Arena con­sist of an em­phy­teu­tic lease and a man­age­ment con­tract. The lease is re­quired due to the fact a mu­nic­i­pal build­ing has been built on prop­erty be­long­ing to Stanstead Col­lege. The man­age­ment con­tract as­signs re­spon­si­bil­ity for the man­age­ment and up­keep of the arena to the Col­lege, in­clud­ing such ex­penses as in­sur­ance, main­te­nance and staff, which are re­quired to main­tain the build­ing and the ser­vices it of­fers. Stip­u­la­tions in this agree­ment guar­an­tee 100 hours a year of free ice time to each of the two lo­cal el­e­men­tary schools and a 20% re­duc­tion in ice time costs for the mu­nic­i­pal­ity.

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