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Auto Restoration Club seeks $800K–$900K for Phase 3 showroom; committee requests financials and walkthrough
Summary
The Auto Restoration Club (ARC) presented a preliminary concept for a Phase 3 showroom and requested financing; the committee heard ARC history of previous loaned funds, learned a donor has pledged $150,000 for steel (available 18 months), and asked for detailed club financials and loan terms before any decision.
John Click summarized to the Budget & Finance Committee on Sept. 16 a preliminary request from the Auto Restoration Club (ARC) to finish a Phase 3 showroom and related spaces. Click said the club estimates the Phase 3 cost at between $800,000 and $900,000, that the club has a time‑sensitive $150,000 donor pledge for steel fabrication available for roughly 18 months, and that the club seeks a financing arrangement through the association’s operating account rather than reserve funding.
Click reviewed ARC’s earlier project history:…
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