How is the Stone Barn being funded?
NO TOWN TAX DOLLARS were used to purchase the Stone Barn. The town took out a loan at their local bank for $150,000 at 4.75%. The quarterly payments are being made from the town Park Fund account. The funds in this account come from Park Fees and Impact Fees that the town has been collecting from new home builders in Chase since 1995. Proceeds from our annual Town Picnic, and any other events we have, also go into this fund.
NO TOWN TAX DOLLARS will be used to restore the Stone Barn. The town plans to raise all the money they need for the restorations and development of the stone barn. The Jeffris Family Foundation in Janesville, WI, just approved a challenge grant for the barn restorations, which are estimated to be $430,000. If the town can raise 2/3 of this amount ($287,000) by June 30, 2012, then the Foundation will give us the remaining 1/3 ($143,000).
Once the large area of the barn is restored, we can rent
this space for public and private events. The
rent from these events will go back into the Stone
Barn
Fund to pay for future expenses.
The town recently hired The Sweeney Group from
Madison, a professional fundraising firm, to help us
raise the money needed for the restorations.