2025 SPECIAL MOTION: Annual Fee Increase of $50 and going forward index annual fee increases to inflation.
Dear Parkland Community Centre Members,
Please join the Board of Directors and staff of Park96 for a review 2024, an update of 2025 and looking to the future. We encourage and welcome your input as we put forward items for vote at the AGM including an annual fee increase to take effect in January 2026.
In 2024, the Park96 Board of Directors commissioned an independent Reserve Fund Study (“RFS”) that included a life cycle prediction of Park amenities for the next 30 years. The RFS required the Board to take a financially critical look at the future of our Park. In measuring the necessary capital repairs and improvements against current and projected expenses and revenues, the RFS concluded Park96 will need to invest $140,000 (plus inflation) per year to maintain the Park at its current standards. The agreed conclusion of the study and the best option for Park96 is an increase in membership fees, with future increases indexed to inflation. Without an increase, the Park96 reserve fund will be completely exhausted by 2031.
Membership fees are intended to provide most of the revenues required to operate, maintain, and upgrade Park96 amenities. Membership fees have not increased for ten years, and the RFS identified several pressing & major capital improvements required immediately. The combination of inflation, an aging Park, and major projects completed, the Park is financially out of step with the future recommended replacement costs identified in the RFS.
SPECIAL MOTION: Annual Fee Increase of $50 and going forward index annual fee increases to inflation.
The Board of Directors’ mandate is to act as prudent stewards of Park96 and ensure that the Park remains vital and valuable for generations. The Board of Directors has determined that membership fees must be increased by $50.00 annually and going forward will be indexed to inflation to ensure the long-term financial health and viability of our park.
As a homeowner in the community of Parkland, you are also part owner of the Parkland Community Centre (Calgary) Ltd. The Board of Directors will be hosting Open Houses to respond to questions and provide more detailed information. Further, in an ongoing effort to maintain transparency and access to information for all members, ALL information is available via our website www.park96.com (AGM Handouts, FAQ, Costplan Reserve Fund Study.)
I hope to see you at the AGM in June to get an update on the state of Park96. If you are unable to attend, please complete and return the Proxy by Sunday, June 8th at 7:30pm.
Regards,
Chris Fenton
President, Board of Directors
Parkland Community Centre (Calgary) Ltd.
Articles of Association – revised June 2022
2025 AGM PROXY – online fillable
P96 Board AGM Minutes 20240610
2025 AGM – FEE INCREASE PROPOSAL
2025 AGM – FEE INCREASE POWERPOINT
Park96 Reserve Fund Study COSTPLAN