The future for Wheal Jane cycle circuit is bright and secure

A Generous Offer made by Wheal Jane Ltd

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News update on Wheal Jane Cycle Circuit!

 

The future for Wheal Jane Cycle Circuit is Bright and Secure

 

Over the last two years since the Crowdfunding scheme closed, we have been spending the money raised and resolving the complex issues that the development generated. Attached below is a PDF report that explains what has happened since, and where the money has been spent.

 

However, at the end of the successful 2017 season we still faced a number of significant challenges. Firstly, we still owed Wheal Jane Ltd £11,600. We also had significant work to do in terms of repairs and preparation for the 2018 season.

 

Wheal Jane Ltd has come up with a proposal that is both generous, imaginative, and will resolve many of the issues that we face. They have offered to take over the running, repair and maintenance of the circuit and equipment. We will transfer the ownership of the assets purchased to Wheal Jane Ltd and they will write off the debt.

I have accepted this offer on behalf of the cycling community, as I believe this is the best way of securing the circuit’s future, and maintaining the equipment.

In return, Wheal Jane Ltd will rent the circuit out to any organisation who wishes to use it. This will be based on a ‘not for profit’ principal. Wheal Jane Ltd will have to cover their costs and retain a small surplus to repair and maintain equipment and the circuit. However, they will be able to cut costs significantly, compared to us, partly because the debt will be paid off, and partly because they have on-site staff with the skills to maintain the equipment and circuit.

 

This really is a very generous offer, and I believe that it is the best solution for the continuing use and development of Wheal Jane Cycle Circuit.

 

When I launched the Crowdfunding project, the ambition was for there to be a fully equipped cycle circuit available for Cornwall. This is now the case… the circuit is there, the equipment is there, the risk assessment is available and ‘signed off’. Through the generosity of Wheal Jane Ltd, the circuit is now available for all legitimate organisations to hire from them.

 

Enormous thanks must go to Mark Giddings CEO, Darren Evans and Bernard Ballard, Directors of Wheal Jane, for their generosity and support throughout this project.

 

In the next few weeks we hope to complete an inventory of all equipment, plan a formal transfer of the assets, and sign an agreement with Wheal Jane Ltd, which will secure the future use of the circuit and clarify for all, the rules that are applied to that use.

The challenge is now for the cycling /Triathlon/charity community to step up and explore the idea of promoting events and making Wheal Jane a focus for the growth of sport and participation in Cornwall.

 

Rod James
Chair of Wheal Jane Cycle Circuit

 

Click here to read the Wheal Jane Cycle Circuit Review 2014 to 2017 – PDF Report >>

 

 

The future for Wheal Jane cycle circuit is bright and secure