Shares being sold to raise money for Marigold renovations

Staff ~ The Truro Daily News
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TRURO - Truro Investment Co-operative Limited officials are hoping to raise $200,000 to spruce up the Marigold Cultural Centre.
The money, which would be generated by the sale of shares purchased through the Community Economic Development Investment Fund (CEDIF), would go towards a more efficient and greener heating system, improvements to the entry, more visible signage and other projects.
"It has been a long process from the initial idea of developing a cultural centre in downtown Truro to the point where we can now solicit financial support from our community for necessary upgrades and enhancements," said John Kelderman, chairman of the Truro Investment Co-operative, which owns the centre.
"Now, with nearly five years of successful operation behind us, it is necessary to bring this cultural icon to a higher level of
awareness."
The shares are available for $1,000 and have to be purchased by Feb. 28.
In 2006, the Downtown Truro Partnership spearheaded the project of creating an arts and culture centre. Colchester County residents invested more than $950,000 towards the purchase and development of the former movie theatre. The money was invested through a CEDIF, a program developed by the provincial government to encourage investment in local and community-based projects, which includes a non-refundable 35 per cent tax credit against provincial taxes payable for each investor.
"Most people know that in business, once you stand still and become complacent, you are falling behind," Kelderman said.
"Therefore, we are announcing today the offering of a second CEDIF offering to help make the Marigold a better, more efficient, greener, and more visible location for all Truro citizens and visitors alike."
Shares must be purchased by individuals and are not offered to corporations.
For more information contact Kelderman at 893-7881.

Organizations: Community Economic Development Investment Fund, Marigold Cultural Centre, Truro Investment Co

Geographic location: Truro, Colchester County

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Recent comments

  • Gortex
    March 01, 2010 - 14:40

    The idea of a cultural centre in Truro is a great one, but I have a beef with the Marigold.

    Events there cost WAY too much for the average working person to think about attending, let alone bringing the family.

    If the prices were a bit lower, more people would be able to come, and the Centre wouldn't have to resort to this kind of fundraising.

  • Justice
    March 01, 2010 - 14:39

    I think the seating area needs to be upgraded, it is extremely uncomfortable.