St. Paul’s Home buys land from Rocky Lake Development Association

 

St. Paul’s Home, a charitable organization with properties and land holdings throughout HRM, has agreed to re-purchase 45 acres of land located near Bedford Commons formerly held by the Rocky Lake Development Association.

 

The Rocky Lake Development Association (RLDA), a non-profit organization, purchased the same 45 acres from St. Paul’s Home in 2007 in order to fulfill its vision for improved recreational facilities serving the Bedford, Sackville, Waverly and Fall River communities. In 2009, RLDA successfully completed construction of the Rocky Lake Dome, which currently serves community minor, high school and senior hockey, ringette, ball hockey and lacrosse leagues. RLDA financed the original land purchase through a loan from the Province of Nova Scotia. As a non-profit organization, RLDA was unable to refinance the loan from the Province, which comes due in March 2011. The re-purchase by St. Paul’s Home repays the principal portion of the loan from the Province of Nova Scotia, settles certain other RLDA obligations and allows the Rocky Lake Dome to continue serving the communities’ rink needs.

 

“Simply put, our volunteer board found ourselves entangled in the land development business, rather than using our talents to advocate for much-needed recreational facilities – like all-weather fields and a field house for court-based sports,” says Michael Spencer, Chair of the RLDA Board. “We couldn’t meet our financial obligations, but we didn’t want to give up on our communities. We’re thrilled we found a solution that keeps recreation front and centre.”

 

The repurchase agreement transfers title to St. Paul’s Home. RLDA has agreed to lease back property so it can pursue its vision to add a tennis centre, two all-weather soccer/football fields and a fieldhouse to the site that will serve the growing population of Bedford, Sackville, Waverly and Fall River. The Rocky Lake Dome will continue to operate under current management and schedule with no interruption.

 

 “We share the RLDA’s vision to earmark this land for recreational use that benefits the surrounding communities. That’s why we were eager to step in and protect that vision,” says Bill Lord, St. Paul’s Home Board Chair. “We appreciate the work that RLDA has been doing and the success of the Rocky Lake Dome. We’re looking forward to partnering with them to continue this kind of recreational development.”

 

Final purchase is expected to be complete by June 1, 2011. All contact information and scheduling procedures for the Rocky Lake Dome remain the same.

 

Regarding the recently commenced action by Can*Sport, RLDA’s position is that the terms of the 1997 agreement were not met and that the agreement is no longer binding. RLDA will file a defence to Can*Sport’s legal action.

 

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Media Contact:

Michael Spencer,

Board Chair, Rocky Lake Development Association

902.497.4404

www.rockylakecommon.com