PS News Release by po2378

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									MEDIA RELEASE For immediate release Skating rink is a go (Waterloo, ON – Oct. 19, 2009) The City of Waterloo is moving forward with plans to build a skating rink in Waterloo Public Square for the 2010 winter season. This decision was made at a finance and strategic planning committee meeting on Monday, when city council heard that community fundraising efforts for the rink have brought in about $350,000. That total includes individual and corporate pledges, as well as $10,000 that has already been received in cash donations. It was announced that as part of that fundraising total, a corporate donation in the amount of $150,000 will come from The Frank Cowan Foundation. “Cowan is pleased to support the City of Waterloo and the local fundraising group in their efforts to create a rink in Waterloo Public Square,” said Rick Purdy, president and CEO of Cowan Insurance Group and president and CEO of Frank Cowan Company. “We want children and their families to have the opportunity to skate and enjoy this great community space during the winter months this year and for years to come. It’s our way of giving back to the community where many of our employees, clients and business partners live and work.” Other significant corporate donors include the Kitchener Rangers Hockey Club and Eastforest Homes Ltd. The remaining $76,000 required to fund the $426,000 rink construction will come from funding for the public square project that was not used during the initial construction phase. “Having a skating rink in the Waterloo Public Square will transform the venue in the winter into a popular destination for fun and recreation,” said David Smith, the city’s general manager of recreation and leisure services. “We are all looking forward to the exciting programming and events that will take place there.” A community fundraising group – comprised of Jim Playford, Paul Rossi, Rick Dubeau and David Martin – will continue its fundraising efforts. Its members are still in contact with a number of potential sponsors.
100 Regina Street South, Waterloo, ON N2J 4A8

• 519-886-1550 • www.waterloo.ca

The underground infrastructure for the rink was installed during the public square’s construction. The $426,000 will go towards completing the above-ground elements. Annual operating costs for the rink are expected to be about $138,000. Council voted to fund these costs through the city’s tax rate stabilization reserve for 2009 and 2010, and directed staff to incorporate future operating costs into the budget process. Council awarded the tender for the supply and installation of the refrigeration equipment for the ice surface to Custom Ice during Monday evening's meeting as well. The Frank Cowan Foundation is a charitable foundation that was activated in 1995 in honour of Frank Cowan, the company founder. The Foundation exists because of the success of Cowan Insurance Group and Frank Cowan Company. Together they provide insurance and risk management products and services for individuals, businesses, organizations and public entities as well as assisting employers with their group benefits, retirement and health and disability management plans. For information about Cowan, please contact Lynne Short, vice-president of marketing and communications for Cowan Insurance Group, at 519–650-6363, ext. 31608, or lynne.short@cowangroup.ca. – 30 – For more information, please contact: Patti McKague Director, Communications and Marketing City of Waterloo 519-747-8748 patti.mckague@waterloo.ca

100 Regina Street South, Waterloo, ON N2J 4A8

• 519-886-1550 • www.waterloo.ca


								
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