$355,000 Donation

Friday, 30 May 2014 13:00

John Goodbun, Brian Krinock and Don McKay tore up loan agreement Friday morning at Sakura House

TMMC pays off remainder of VON Sakura House's loan to the County

WOODSTOCK - VON Sakura House is now officially loan free from the County of Oxford.

That's thanks to a $355,000 donation from Toyota Motor Manufacturing Canada.

Chair of the VON Oxford Community Corporation, John Goodbun says the money will provide the final payment on a loan advanced by the County back in 2009 to support Sakura House and its mission, closing out a capital campaign that was launched with Toyota's initial 2005 gift to Sakura House.

"Now we are just able to start an endowment fund. The house itself is like any house that anybody lives in, it's going to need repairs and we do have a strategy going forward but now we can commit to a budget and we can make a timeline now. It just helps us out so much."

During a ceremony Friday morning, County Warden Don McKay, along with Goodbun tore up the loan agreement.

TMMC President Brian Krinock was also on hand and says while the company donated the land back in 2005, the VON took on the capital improvements themselves.

"We as Toyota right now are looking, how do we strategically partner in Woodstock? We always give back to our community, and this was kind of the right thing to do. They are our neighbour. It's been long standing since 2005 with what we were going to do with the property and from here going forward, we want to continue that relationship."

Goodbun says Sakura House would simply not exist without Toyota's generosity and commitment.

"This is incredible. I mean we knew the loan was going to be paid of. We had great commitment from all our directors, the staff, the volunteers that help us along the way but what Toyota does for us, towards VON is just incredible. They have been a partner from day one. From 2005, they saw a vision and it's come to this and it's just... I can't say enough about it."

District Executive Director from VON Middlesex-Elgin and Oxford, Cindy Kinnon says the donation will allow the VON to turn their attention to securing the $376,000 needed each year to operate the hospice free of charge to families who need to use it.

The Toyota donation is the single largest cash gift ever received by V-O-N in Oxford.