Dear Friends and Neighbors,
We want to thank you for your support and keep you informed of our plans and progress as we move forward with the New Pool project. Thank you to all who voted last November in favor of the NCRD Pool Bond measure.
On April 6th of this year our very successful Bond sale yielded over $8.2 million. That is $1 million more than we had anticipated. This was due to interest rates and market conditions on that specific day as well as our A+ credit rating and the quality of investors who purchased our bonds. On the following day that money was deposited in the NCRD Pool Fund. When added to the $2.2 million we had raised previously, we now had well over $10 million in the bank to build the new pool.
We contacted our pool architect and asked him to complete the final construction drawings needed to go out for bid. At last, we were ready to start building. We had all the land and geotechnical surveys updated. We expected to break ground in early spring of 2022.
In October when our architect had the plans ready, he submitted them to an independent estimator. Due to the pandemic, the cost of construction had gone way up and there were numerous problems in the supply chain, making it difficult to get a lot of the materials. Instead of having an extra $1 million, we were now looking for places to cut the cost of the project. We made as many cuts as possible, but within a month, inflation had completely wiped out the savings from those cuts, as costs continued to rise.
As a result of the pandemic and the consequences it has had on the supply chain and inflation, we now find ourselves several million dollars short according to this latest estimate. While there is a very good chance prices will start to come down there are no guarantees.
It has been NCRD’s longstanding policy and practice to have the money in hand before beginning a new project. Since the formation of the Recreation District in 1997, NCRD has remained for the most part debt-free.
North County Recreation District was formed for the purpose of saving and supporting our old swimming pool built in 1930. The pool was built back then as an addition to the existing school building for the purpose of teaching every child how to swim as part of their basic education. The community came together in the middle of the Depression and approached the School Board about building the pool after the tragic drowning of two local 14-year-old boys.
It has been NCRD’s mission to carry on that tradition by offering weekly swim and water safety instruction to all the students in Nehalem as part of their school curriculum. NCRD is proud to be able to continue that legacy for our community. Today the pool is also a major benefit to our adult population for fitness, therapy, and rehabilitation. We have known for a long time that the old pool needs to be replaced. If we are going to be able to continue to serve the community and teach our children this vital life skill to prevent future drownings, we must build a new pool.
So, we are now faced with the task of raising the additional revenue to complete the project before we can begin construction. We are rising to this challenge and assembling a task force to explore and coordinate our funding options. We ask for your patience and understanding as we navigate these uncertain times.
As 2021 comes to an end, we are still moving forward. We had thought we were finished fundraising for the new pool, but the finish line just got extended out a little further in front of us.
Thank you to everyone who has supported and contributed to this project over the years. We still have memorial pavers for sale. The engraved pavers will be installed in the lobby of the new aquatic center. They are a great way to honor someone you love. We welcome and appreciate your donations of any amount. All donations to the new pool are tax deductible.
We will be keeping the community informed of our progress as we move forward. Hopefully things will stabilize next year. We wish you all a happy and healthy 2022. We appreciate your patience, understanding and support in these uncertain and difficult times.
Thank you again,
Executive Director/Aquatics Director