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Trustees welcome funding for National Sports Centre

The National Sports Centre's trustees yesterday welcomed plans by Government to invest $15 million into the Prospect complex.

Trustees chairman Donald Lines explained the money will enable the completion of the northern playing fields and the southern fields where stands will be erected.

Mr. Lines said the new Government decided to change the order of the various phases and placed a higher priority on completion of the southern fields -- the current National Stadium -- over completion of the central core.

Charges by the Opposition United Bermuda Party that the National Sports Stadium project was to be funded by the trustees issuing a bond, were knocked down by Mr. Lines who revealed that the bond issue was contingent on Government leasing the property.

He said that the UBP Governmen had planned to lease the property for 15 to 20 years. But when that did not take place, the bond issue was impossible as the trustees had no security to offer, he said.

Other suggestions from the Opposition that it was the job of the trustees to fundraise for the $48 million project, were also cast aside by Mr. Lines. He sought to point out that there is a difference between fundraising and financing.

The trustees never anticipated, Mr. Lines said, obtaining the majority of the money needed through private sector funding.

Youth and Sports Minister Dennis Lister charged that the previous Government "had left too many loose ends and the whole project in a confused state''.

"We have brought clarity to this project, which now allows the trustees to go out and get the funds,'' he said.