Anaconda-Deer Lodge County signs Letter of Intent stating they will donate five acres of land in Anaconda's East Yards to SCRC - contingent upon a successful capital funding campaign.
On February 16, the Smelter City Recreation Complex Board of Directors was given the opportunity to present our new facility design plan to the County Commissioners and ADLC CEO Bill Everett. Along with our presentation, we provided the Commissioners with a Letter of Intent requesting 5 acres of land in the East Yards be donated to SCRC, contingent upon a successful capital funding campaign. There was an unanimous vote in favor of signing the Letter of Intent; and now, with the LOI in hand, SCRC can begin prepping for our capital funding campaign.
This is a huge milestone.
As was discussed in our most recent newsletter, a capital funding campaign is a complex, concentrated effort to raise a significant sum of money for a specific project. Nonprofit organizations like SCRC commonly utilize this approach in their efforts to construct new buildings. Capital campaigns entail meetings with notable large-scale donors who believe in giving back, and who have extensive funds to do so. The capital funding campaign is where SCRC intends on raising the millions of dollars needed to construct this incredible space.
Of all of the stars that need to align for SCRC to become a reality, there are four that are essential to launching this campaign:
1 - Market Analysis
SCRC needed a professional, industry-specific consulting firm to complete an in-depth market analysis. This study was completed in 2017 when SCRC hired Ballard Group to perform the analysis that would generate the statistical data, trends and forecasts that allow the SCRC Board of Directors to calculate accurate projections.
2 - Design Plan
In 2018 SCRC hired ARC Architects to formulate an architectural design plan for our future facility. In 2020, when the Board decided to cut the aquatic center, the design underwent some changes. Those changes enabled square footage requirements and the resulting projected building costs to align with a more realistic donation goal. Our design plan is now ready to present to potential donors.
3 - Operational Budget
The cash flow statement and operational budget of any organization is what ultimately determines its success. For SCRC the operational budget considers revenues generated from daily dues, special events, programming, and facility rentals. It considers expenses such as the cost of labor, equipment, utilities, and upkeep. In years past, the SCRC budget didn't pencil out, and the facility required a significant endowment fund. With our new design plan, we have a positive cash flow statement.
As a Board it is our responsibility to ensure the facility is financially sustainable. We've dedicated significant time to our budgetary projections over the past 6 months to ensure that a capital funding campaign would only be pursued if we knew our future facility could operate as a stand alone facility. And it can!
4 - Land
Last but not least, SCRC wouldn't be able to launch a capital funding campaign without a piece of land where we could build. We are beyond grateful to Anaconda-Deer Lodge County for signing our Letter of Intent. In doing so, they are giving our Board - and our community - the opportunity to further pursue our dream of having a recreation complex in Anaconda.
Our hope is that our thoroughly researched and down-sized facility will give potential donors the same confidence in supporting our mission that it has given our County Commissioners and our fellow Anacondans who have recently reached out expressing their overwhelming support. (Thank you, everyone!)
Our current plan is to launch our capital funding campaign at year end. Before that happens, we welcome your feedback, questions, comments, concerns, and words of support. If you have an interest in reviewing our current design plan or budgetary projections, please reach out and we are happy to share those details.
And lastly, if you would like to support Smelter City Recreation Complex and the new direction we are taking, please donate. All donations collected in 2021 will be used to hire Bannack Group to launch our feasibility study and capital funding campaign.
Thank you again for your support and generosity,
Your SCRC Board of Directors
* Please mail donations to 123 E Main St. Suite 4. Anaconda, MT 59711
* Checks must be made out to Smelter City Recreation Complex.
* All donations are tax deductible.
* Our Tax ID# is 81-3281617.