MONTREAL - The City of Montreal will be taking over the TAZ skate park after the not-for-profit responsible for the sports complex ran into financial difficulty and was on the verge of running out of money,
On Wednesday night, the city's executive committee voted to allocate $4.3 million to purchase the building in St. Michel on Papineau Ave, citing the building's proven usefulness in keeping children in schools.
According to the city, "the financial obligations linked with running the building were too heavy for the not-for-profit." The opening of the TAZ was originally aided with $10 million in funding from the federal, provincial and municipal governments.
The TAZ reopened in 2009 after a decade of financial difficulties.
"Our objective is to safeguard this investment and to allow for the youth continue to practice their favourite sport," said Manon Barbe, the city councillor responsible for sports. "Despite the success and heavy use of the building, the not-for-profit owners of the TAZ were near bankruptcy."
The building's $4.3 million price tag will be offset by a $2.3 million grant from the provincial government. Management of the building will remain with TAZ.
"Since its opening, the city has been a partner in this project and has provided financial support while closely watching the efforts of the project," said Barbe. "With our intervention, we are reaffirming our commitment to Montreal's youth and sports."
