With the projected cost of the Greater Vernon Cultural Centre once again rising, the future tenants of the proposed building are speaking out to state their "unwavering" support for the project.
Cost escalation has been an ongoing problem for the project. Last month, the Greater Vernon Advisory Committee (GVAC) held a special meeting in which Regional District of North Okanagan staff reported that the cost had ballooned by $2.8 million to a total of $44.7 million. With $28 million to be borrowed long-term and fundraising totals of $5 million, that left an $11.7 million shortfall. GVAC members were presented with three options for how to proceed: asking voters to borrow more money, scrapping the project and filling infrastructure needs by other means, or carrying on with the current plan.
GVAC members deferred making a concrete decision until staff could report back with more information, including an update on the project's total cost.
That update has arrived, as a report to GVAC states that the cost has again gone up, this time by $1.3 million for a total of $46 million. Staff note this price tag includes all "soft costs, escalation estimates and contingency appropriate for the current stage of design." The funding gap is now $13 million which staff say can't be raised through the current fundraising plan.
The report notes that at the July meeting, the committee "indicated that they wish to proceed with the current project on the proposed schedule to avoid cost escalation and uncertainty; this will require that the $13 million funding gap be fully funded by the Regional District to backstop external funding targets, with any shortfalls ultimately paid through taxation."
Staff are now presenting options for borrowing more money for the project, which can be done either with more long-term borrowing through an approval process or shorter term borrowing that would require a "substantial increase" in taxes.
But amid the fundraising challenges, the Vernon Public Art Gallery and the Museum and Archives of Vernon are voicing their support for the project that would become their new headquarters, and reminding that the public has supported the project by vote in the past.
“Much progress has been made towards the design and function of the new facility,” said Gallery executive director Dauna Kennedy in a joint press release issued Tuesday. “We appreciate Greater Vernon’s significant contribution to the project’s cost through the land transfer and are excited to get the latest work and estimates from the architects.”
Gallery board chair Sarah Kennedy added: “We know the public is firmly behind this project as they recognize the benefits of a new cultural space in bringing education, artistic delight and diversity, and economic benefits to our community.”
Greater Vernon Museum and Archives Society Board President Adrianna Stange also welcomed the new space.
“The opportunity to share the story of the Greater Vernon area, and celebrate our past and help shape the future, as well as maintain records for our community groups in the archives is vital. This new facility will bring history to life and also preserve it for future generations," Strange said.
While the fundraising goal has grown over time, both future tenants note that the community has supported the project through referendum and are confident that the project will ultimately succeed.
Community members have been reaching out to the museum and art gallery to express their support, according to the press release, which also said a fundraising committee will be re-established "as soon as the new goal and timeline is identified."
“We know that there’s a lot of interest in seeing this new addition to Vernon’s downtown core,” said Steve Jenkins, executive director of the Museum and Archives of Vernon. “We appreciate the work of the regional district’s staff in helping to move the project forward and in writing grant applications. We have interested volunteers, momentum is building, and we look forward to leveraging donations already committed."
