The Rosedale Tennis Club, located with Gage Park, is asking Hamilton City Council to add $300,000 to a previously approved City interest-free loan of $1,330,000 to assist the club in paying for the replacement of its four tennis courts and dome.
In a letter to Council, the Club states it failed to secure hoped-for sponsorship money in the amount of $200,000 and faces increased costs compared to its original budget.
“We are requesting an additional $300,000 in additional loan to allow us to complete the project. The funds will cover the changes required to meet added costs for changes that are above the contingency amount set aside for the project,” writes David Scott, Rosedale Tennis Club President.
Scott writes the club is experiencing membership growth and “have reviewed our financial position and are very confident that we can cover the additional loan request.”
In addition to the loan, the club states that an existing electrical vault that services part of Gage Park, Rosedale Tennis Club and Rosedale Lawn Bowling must be replaced.
The Club requests the City fully fund this replacement, at an estimated cost of $230,000, because it serves the Park and Bowling Club.
Council will debate the letter at their May 22, 2024, ratification meeting.