RSA raising cash for units

18:27, Feb 10 2014
timaru rsa units
CONCEPT DRAWINGS: South Canterbury RSA has launched a debenture issue for the development of six units.

Plans by the South Canterbury RSA to develop land at the rear of its Wai-iti Rd premises are moving a step closer.

South Canterbury RSA general manager Michelle Brown said the club was calling on members and the general public to support a debenture issue to raise funds for the development of six units on the site.

"We hope to raise $50,000 through the debentures, but $100,000 would be even better," she said. "We are paying 4 per cent interest and the debenture funding will be fully repaid with interest once the units have been built and sold."

The idea of building units on the land was first mooted last year and members supported the idea "in principle" on that occasion.

The units, which will have two or three bedrooms, will be close to all club facilities and handy to town.

The club has 1600 members and new members are always welcome.

Mrs Brown said many people are still unaware membership at RSA clubs is open to people other than those who have served in the armed forces.


South Canterbury