A huge milestone was achieved this weekend when the club investment scheme reached a quarter of a million Euro, committed over the next 5 years. All the development finance team involved in this endeavour are blown away with the response and very appreciative of the generosity of our members. This milestone keeps us motivated to continue the hard work.
We have recently been holding update chats with various underage teams and a few questions have come up that are worth sharing with the full membership.
Q: When will work start on the development?
In the coming weeks we will be back on site with machinery to continue clearing some of the old tree stumps. Once the Sports Capital Grants are announced and hopefully, we are successful, we can then start planning for further works. We are not permitted to start any construction works on the middle field until the SCG is announced. If our internal fundraising continues to be so successful, we may be able to start other works sooner than originally planned.
Q: What works are planned in this phase?
The main headline items are the Middle pitch, Ball Wall & Astro Turf, all have floodlighting planned, these items will also require groundworks and ancillary services.
Q: Can I just pay with cash or cheque?
Yes, now that the clubhouse is back open, we will hold a night or two where members can come down and sign up in person. The online system has worked really well, so we encourage all to try it out but if you prefer in person, we are only too happy see you! The date for the first night will be announced in the coming days.
Q: Do I have to give my PPS number?
We use the PPS number to reclaim tax relief on the development back from the government. Your PPS number will only be sent to the Tax office to reclaim the relief and will be used for no other reason. If you prefer not to share your PPS number this is no problem, we will still get the benefit of your investment and very happy to do so.
Q: Will the system just carry out taking my money forever?
The system is set to operate for a set period, 5 years. You will get a notification after every transaction that your payment went through successfully. This is not a system that you will sign up to and forget about and rest assured all the funds raised will go directly to the club development and all the facilities that we so badly need.
Q: When is the deadline to sign up?
Our current understanding is that the SCG will be announced end of November, ideally by mid-December we can approach the lending partners and start the process of getting funding in place for the works. The sooner we can get our investment up to our ambitious target, the better placed we will be negotiate with our lender. To make your investment work the hardest, the sooner you come on board, the better it will work.
Q: Where else will funds come from?
Currently we are in pursuits of funds from the Sports Capital Grant, Leader Programme Funding, National Lottery Community Fund, County Council GMA fund, Benevity Fund & some other local benevolence funds. We will also be able to claim tax relief from the member investment fund. In November we will be starting the process of corporate sponsorship, using a similar system to the member investment fund. Now that we have raised over quarter of a million Euro just from our membership, this gives us a very positive message to go to local businesses with. We have also met with many local public representatives who have been very supportive of our project and are actively working with us to identify suitable funding avenues.
If you have any other questions, please feel free to pass these on via one of your coaches and we will respond.
In the coming weeks we have the following club promotions.
This week “wear club colours” to support the hurlers for the final on Sunday, let’s get as many people as possible out and about with the club colours showing our support and getting a better sense on the size of our thriving club.
Friday 22nd all four primary schools will be wearing red for the county final and supporting some local charities.
In November we will be running a colouring competition in all the schools, promoting the new development with some great prizes sponsored by our own COBI Sports.
We are sending out car stickers to all those who have invested in the hope it will raise awareness of our funding scheme, we are hoping that all those who have already invested will now become our best salespeople.
Finally, thank you again to all those who have already committed and to the many members who have it on their list please take the time to sign up today.
The main driver behind the scheme we launched with was that we could spread the load across our club, over time but use the commitment of our investors to borrow against. We have over 1,000 members and if most can sign up to a manageable investment then we can achieve our goals in phase 1 and we will have facilities the envy of the country.
These new facilities are so badly needed, we are seeing a huge influx of new members, some age groups have over 100 children on the list, the numbers of girls taking up Camogie and Football is incredible. In many age groups we are now entering two teams, our club is growing at a phenomenal rate, and we need to be ready for the future.
We need your investment, we will use it wisely, this will be a success with your backing.
