adplus-dvertising
Connect with us

Investment

'Stunning' Leacock Home needs big investment: consultants – OrilliaMatters

Published

 on


The Stephen Leacock Museum is a “stunning and rare” asset that needs an investment of up to $3.5 million over the next 10 years to realize its potential.

That’s the conclusion of a lengthy masterplan exercise conducted by TCI Management, who presented a 255-page report to city councillors at its virtual meeting Monday. 

All options were on the table – from selling the facility to the highest bidder to keeping the national historic site within the city’s culture department.

Ultimately, the recommendation is to keep it where it is.

“But this does not represent the status quo,” said John Linton, a partner at TCI. He said investments are needed in both capital and operations.

For example, the masterplan calls on the city to move the curator position at the museum from a contract position to a full-time position.

Another programming staffer should be added to augment the programming side; the consultants believe new and expanded program offerings could boost attendance at the site on the shore of Lake Couchiching.

But the consultants also raised a red flag of sorts. Since Stephen Leacock’s books are no longer required reading in Ontario schools, there is a “diminishing recognition” of the famed humourist – especially among millennials and younger people. 

“His relevance is fading to some extent,” said Linton.

The consultants say it’s “an opportunity” to revisit its brand and they recommend calling the property “The Old Brewery Bay National Historic Site, home of the Stephen Leacock Museum.”

He said the idea would be to use the Leacock legacy as a springboard to celebrate the traditions of Leacock, who lived at the home and wrote in the boathouse.

One of the key recommendations is to improve the food service operation at the site, which, generally, has “a poor image.”

A basic food service/coffee operation is a “fairly essential element of the visitor experience … to attract visitors and keep them on site,” said Linton.

City councillors ultimately agreed at Mondays’ council committee meeting. They accepted the report in principle and also agreed “to actively seek out a food services business to manage a cafe or restaurant on site.”

The decision has to be ratified at next Monday’s city council meeting.

The consultants recommend the city pursue a “branded operation” such as Williams or Timothy’s that would help attract people to the site.

There are myriad other recommendations – both short-term and long-term – in the report. Staff will be tasked with coming to annual budget deliberations with detailed plans to implement some or all of the ideas in the coming years.

The goal is to attract more people to the historic site. In the pre-COVID era, about 13,000 people attended the facility annually.

The consultants say the recommendations should increase attendance by at least 5% each year and, over time, should decrease operating costs – currently about $300,000 annually – by about 5% as well.

The report calls on the city to increase admission fees and raise the fee it charges to rent out its banquet hall to help “maximize” the asset.

They also suggest the city develop a 3,200-square foot pavilion that could be used year-round, to create a stage, to improve parking and lighting and build a ramp that would improve accessibility.

It’s also vital to bolster marketing and communication efforts while building and improving partnerships, notes the plan.

The consultants see a “major opportunity to pursue and develop more partnerships” in the coming years.

They suggest the city pursue “a significant opportunity” to partner with the Orillia Museum of Art and History and, potentially, develop  a memorandum of understanding between the two entities to “forge a closer relationship.”

Coun. Pat Hehn, a “strong supporter” of the Leacock site, said she was “greatly relieved” that the recommendation was not to sell the facility.

Coun. Tim Lauer said he was glad to see the consultants recognized the “importance of place” the museum has in the city. 

He said he was “very supportive” of enhanced partnerships. He said the consultants’ idea of having events – such as a Symphony Under the Stars – is ideal for this “beautiful venue.”

Lauer said he would like to see the city connect Tudhope Park with the Leacock home through an extension of the Millennium Trail.

Ray Merkley, the city’s manager of community services, said there “are significant challenges” along the waterfront, but said they are bringing a plan to this year’s budget session to make enhancements to “highlight the Brewery Bay Lane trail” and improve signage and other elements that would help people walk between the two sites.

Mayor Steve Clarke said he didn’t “share all the enthusiasm” others expressed about the plan, noting he’s concerned there is barely “an incremental increase in vibrancy” expected over the years.

He also said he has concerns that a new pavilion would lead to more noise complaints from nearby residents. He asked the consultant if he could identify “an event centre with collapsible walls and four-season vibrancy in the middle of a residential neighbourhood.”

Linton referenced one such facility in Toronto in the middle of residential area.

Lauer said the success of a facility like the Leacock Home cannot be just about revenues.

“It’s important to remember we don’t run a facility in this city that makes money,” said Lauer, using arenas and the library as examples. “They all cost money. It’s important to contain costs and to do all you can to generate revenue” but if better programming and more events are offered, “that will take care of itself.”

The city paid $67,860 to the consultants to complete the masterplan.

Let’s block ads! (Why?)

728x90x4

Source link

Continue Reading

Investment

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

Published

 on

 

NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

 on

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

 on

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending