As construction of the Fountain Street Soccer Complex continues, the City of Cambridge will ask council next week for an additional $1.3 million to complete the project and meet potential sponsor expectations.
While no sponsorship's have been confirmed, negotiations are underway with potential sponsors that will include funding in exchange for facility naming and branding rights.
Work would need to be completed to install site signage and scoreboards with appropriate branding facing Fountain Street, along with “other amenity improvements as negotiated between staff and sponsor.”
The $1.3 million the city needs to add on to the cost of the $12 million facility will be taken from the city's capital works reserve.
Conestoga College, who is a partner on the project and will use the facilities for their soccer and rugby programs, will also kick in an additional $9,299.
To date, the college has contributed $1,519,791 to the costs of an artificial turf field and related amenities, two change rooms and a treatment room in the field house building.
During a schematic design phase, project cost estimates revealed a budget overrun. Council then directed staff to to remove or reconfigure a number of amenities from the project to reduce the budget including scoreboards, bleachers on two fields, fencing, park bench seating and other site furnishings, playground, and a reduction of the number of tree plantings.
However, council cited that those items may be reconsidered should future city funding or sponsorship funding be obtained.
Interkom Inc., a Burlington-based marketing company, was hired by the city to come up with the framework for its new advertising, sponsorship and naming program.
The company is also responsible for similar work being done for the Preston Auditorium Expansion and the South-East Recreation Complex and Library projects.
A feasibility study found approximately $15 million in funding opportunities between the three facilities, $2.5 million of which was value identified for the Fountain Street Soccer Complex.
The total amount being sought includes $290,000 to recharge the construction contingency as the project's 5 per cent contingency fund has been depleted.
The funds that will be accessed up front from reserves will be reimbursed, including interest accrued, following the receipt of sponsorship funding.
City staff will ask council to increase the construction budget at its June 27 meeting.
