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2016-11-09 / Front Page
Petition looks to return funds to the town
By NEIL P. ALLEN
SPRINGFIELD — Several residents are interested in seeing a return of funds to the Town of Springfield from the Southern Vermont Recreation Foundation. They have begun circulating a petition to rescind the vote taken in September 2002, which, they say, would allow the funds and the fund gains to be returned to the control of the town.
In 2000, the Southern Vermont Recreation Center Foundation (SVRCF) was created as a nonprofit comprised of local residents and businesses who wanted to build a recreation center, according to Walter Clark, one of the petition creators.
"As you may know, we [the Town of Springfield] received $3 million to host the prison in town in 2002,” said Clark. “Residents voted to allow the selectmen to enter into an agreement to put the money, minus $300,000 to the town for recreation, into a trust to be invested. The profits from the capital gains were sent to the foundation to be used for operating expenses for the recreation center.
According to Clark, the agreement has been amended twice, the first time to get an extension on building the pool and the second time to allow them to use the money from the gains to pay for the taxes that were in arrears.
There was a time when there was a movement in the town to have the recreations center go 'belly up,' said Clark.
"I think it is a good addition to the town and I don't want to see it go belly up," he said.
“In 2010 they started to have problems with their finances and in 2012, the recreation center was sold to Springfield Hospital,” he continued. “Now the trust fund and the capital gains go to the Springfield Hospital.”
“Two things happened from the sale: the town lost approximately $25,000 in tax revenue each year as the hospital is a non-profit and the gains from the investment fund go to the hospital foundation,” said Clark.
Clark and a group of other residents would like to see the money going back to the town.
“From 2013 to 2016, $891,920 has been dispersed on the account. We want to see the money back in the control of the town. The gains would come to the town for projects that a group selected by the selectboard would decide on.”
To get this on the ballot for town meeting in March 2017, Clark and others have begun circulating a petition to rescind the 2002 vote.
“We need 400 signatures or five percent of the registered votes,” Clark said.
Members of town government and the Springfield Hospital were not available for comment by deadline.
If you're interested in signing the petition, call Walter Clark at (802) 885-9295.
Walter Clark does not know what he is talking about. The hospital does not have anything to do with running the rec center and has not received one penny from the investments which by the way are held in the towns name. Maybe the Message should have tried calling the town office to verify Walt's misstatements.
ReplyDeleteThe rec center NEVER should have been sold to the hospital. That violated the original agreement. The town needs to revert back to the way the agreement was intended. If the rec center is losing money (or lost money)and can no longer operate, the residents of the town (not just a select few) should vote on what to do with the prison money just like we did in the beginning.
ReplyDeleteNot sure which non profit owns the building has to do with this discussion. It was built with donations and a bank loan, not with the State's funds
ReplyDeleteVote YES to return funds to the town! It's about time!
ReplyDeleteEveryone needs to get their facts straight. The money is staying with Edgar Mae Rec. Center, which is where it was donated to begin with.
ReplyDeleteThe money should go back to the town and the Hospital should pay taxes on the property. It is, after all, pay to play.
ReplyDelete