Kincardine is forgiving a loan given to the Friends of the Pavilion.
The request was made to Council last night by group member Barb Fisher along with Co-Chairs Doctor Gary Gurbin and Martin Quinn.
The loan was for 150 thousand dollars of which 25 thousand had already been repaid.
The group also asked Council for 350 thousand dollars either through a loan or debenture against the value of the municipally-owned building.
Fisher says the building is assessed at approximately 1.3 million dollars and will only go up as they continue to make improvements to it.
Fisher says by forgiving the 125 thousand dollars left outstanding it would show both the Federal and Provincial governments that the Municipality is willing to invest in the building and see it appreciate.
She says the 350 thousand dollars they are asking for is to consolidate the 9 creditors they owe into one payment.
She says the contractors need to be applauded for their support of the Pavilion and the group will be able to pay off their debts to them and move forward.
Fisher says money is coming in as the Pavilion is in high demand despite the economic downturn.
She says they are seeing double the number of rentals over this past year compared to the first year when it opened.
She says people are renting the building for weddings, anniversaries, cooking classes, plus a number of other things that they can move forward with.
She says they are also looking to do a joint venture with schools to get students involved in the old dance days of the Pavilion.
Fisher says Council is recognizing the efforts of the volunteers and the community by backing their requests.
While Council is willing to fork out an additional 350 thousand dollars to the Friends of the Pavilion it has yet to decide whether to arrange it as a loan or a debenture.


