Wolverhampton Lawn Tennis & Squash Club
Neville Lodge, 53 Newbridge Crescent • Tettenhall, Wolverhampton • WV6 0LH
Tel: 01902 753 000
Dear [firstname]
At the EGM our members gave the Board the authority to borrow up to £240,000 to build 3 Padel Courts.
Since then things have moved forward quite positively.
Firstly, we have got planning permission, thanks greatly to the support of our acoustic engineers who put a very reasoned case forward.
Secondly, we have held positive discussions with both MyCourts and Doorflow and both companies are working together to build a demo booking and access system for us to trial.
And finally, we have heard from the LTA who have outlined the level of funding that they are prepared to offer. It is to be verified at a meeting of the LTA Foundation next Monday 10th. It is short of what we hoped for but we are grateful nevertheless.
The level of funding means that we are falling short of our target of £240,000 by £40,000 so I am re-opening the opportunity for members to make debenture pledges to fund the project.
I remind you that 5 year debentures will attract an interest of 1% above base rate which which will become payable in years 3, 4 and 5 with the capital balance being repaid at the end of year 5.
Our debenture pledges cureently stand at £120,000. If you would like to contribute then please reply to this email.
For those who have already pledged, I will be writing to you in the next few weeks with a loan agreememnt documemnt and associated details.
So we are still on target to start works in March and plan to have Padel at WLTSC by June.
Exciting times ahead.
Regards
Steve Chilvers
And just in case you are at a loss of something to do this coming Saturday morning check out Foggy and Brens Bootcamp below. Contact details on the poster
04/02/2025
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