50-metre Pool Gets $3 Million

Thursday, April 1, 2004

An Olympic-sized 50-metre pool took a major step toward reality when it was announced at the Cayman Islands Amateur Swimming Association (CIASA) annual general meeting on Tuesday that a US$3 million donation was being made for the effort.

The anonymous donation represents nearly half of the funds that will be required to build the CI$6 million facility, which will include a state-of-the-art Myrtha pool, a grandstand, a new office building, and other ancillary structures and facilities.

The project will also refurbish the existing 25-meter pool and make it a proper learn-to-swim and warm down pool.

Although the donation is a firm commitment, it is subject to four conditions being met, according to a CIASA spokesperson, who said that the first three had already been agreed to in principle.

The first condition will require the Cayman Islands Government authorise the formation of the Cayman Islands Swim Facility Association (CISFA), which will own, operate and staff the pool.

A second condition will require the Government to authorise a peppercorn lease of the land adjacent to the existing 25-metre pool off Walkers Road for the construction of the new facility.
The third condition will require the Government to pay the recurrent annual expenditures for both the 25-metre pool, as they already do, and the new pool as well.
The final condition requires the Government and CIASA to confirm that the project is ready to begin, meaning that the balance of the funding must be in place before the donation would be made.

According to the CIASA spokesperson, the CI$6 million price tag is a realistic figure that takes into consideration contingencies and cost overruns.

The spokesperson said that while the donation represents a significant accomplishment in the effort to build the 50-metre pool, CIASA would be looking to the private sector in order to raise the additional necessary funds.

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