V3 SPORTS INC
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Mission Statement
Providing health, wellness, equity, and opportunity through fitness, water safety, education, and economic impact.
About This Cause
V3 Sports, Inc. is teaching youth and adults to conquer their fear of water, mentoring teens as they develop life skills through athletic training, and bringing communities together through health and wellness. Community Impact +New opportunities and access to health, wellness and fitness programs +Economic impact and growth through events and destination travel to V3 Center (events, camps, clinics and daily visitors) +Provide programmatic access regardless of ability to pay (endowed scholarship) +Create jobs for V3 & community youth through beneficial retail leases The V3 Youth Triathlon Team was born in 2005, when Founder and Coach Erika L. Binger created the program to stay connected with youth she coached on the swim team while the North Community YMCA was renovated. The V3 Triathlon Team evolved into a youth program utilizing the discipline and motivation of triathlon to include programs and mentorship in education, nutrition, goal setting, leadership and healthy lifestyles. Soon the team was successfully competing on the national level. The V3 program continued to evolve and expand, both in the numbers of athletes and the scope of impact on the participant. V3 became much more than just the three disciplines of triathlon (swim, bike, run) and expanded to include 1) community, 2) character, 3) commitment and 1) life, 2) learning, and 3) leadership. V3 Center will provide access to athletic training, fitness, education, nutrition, retail, and community spaces in a cost-effective manner to meet the health, wellness, and water safety needs of North Minneapolis residents. The Board commissioned a feasibility study and developed the subsequent business plan to analyze and develop the programs and overall sustainability of the V3 Center. The core aspects of the triathlon program will be integrated into a comprehensive health and wellness programming center that includes water safety, academic instruction, financial literacy, mentoring, and job training. It will be a community hub offering a vast array of programs, services, and meeting spaces for the residents of North Minneapolis and its surrounding neighborhoods that currently do not exist. All ages and abilities are welcome, but we will ensure North Minneapolis residents have priority. V3 has been working behind the scenes for several years to bring this dream and vision to fruition. We will start construction in 2022 and open our 25-yard, 5 lane instructional pool in 2023. We will continue to hustle to raise and secure funding for construction costs for the rest of the Center in the coming years, with a goal of opening the full Center in 2025. V3’S COMMITMENT TO NORTH MINNEAPOLIS North Minneapolis has been the home of V3 Sports for many years as young triathletes found their own personal drive and determination to train and succeed in regional and national events. The health and wellness of youth and families of North Minneapolis is our number one priority. Our Learn to Swim programs will be the cornerstone of our work in the V3 Center. Access to the V3 Center and its programs will be offered on a sliding scale to residents of North Minneapolis. A scholarship fund will be developed to ensure access to those who otherwise wouldn't have the opportunity to participate. V3 is building partnerships with North, Henry, and Edison High School to be the primary training pool for their swim teams. North Minneapolis (population 110,000) is becoming increasingly diverse. In 2019, 54% of the population was Non-White and 25% of the population is under the age of 18. In the immediate area of the V3 Center, children under 18 make up 34% of the population, and the Non-White population also significantly increases. While there are countless non-profit organizations (like V3) working to create economic stability, job opportunities, educational equality, and neighborhood revitalization, the unemployment rate in North Minneapolis is twice the rate of the rest of the City, and even worse for African-American men. While the poverty rate is 15.1% for Whites in North Minneapolis, it is 42% for the African American community. The V3 Center site, on the corner of Plymouth and Lyndale, is highly visible from Interstate 94 and Downtown Minneapolis and is already home to a bus stop serviced by several popular Metro Transit bus lines. It is also .5 miles away from the Mississippi River, one mile from Theodore Wirth Park, and just 25 minutes from Minneapolis/St. Paul International Airport. In addition to partnering with various user groups and program partners that support youth sports and health-based initiatives, the V3 Center will offer membership and open recreation opportunities. The Center will also host several large swim meets and athletic events, bringing in visitors and enormous economic benefit to the area. The V3 Center will not only provide the community with invaluable gathering spaces and a world-class pool for swimming lessons and competition, but it’ll also bring jobs to the community. V3 will focus on hiring directly from the talented pool of workers in North Minneapolis. Also, the competitive events are expected to draw participants from the Twin Cities metro area and beyond (including national meets). The V3 Center will not only showcase North, but is also expected to bring in an estimated 45,000 attendees and $3.3 million in direct spending while providing a $5.3 million overall economic impact annually. V3 IMPACT WATER SAFETY: One month of swimming lessons reduces the risk of drowning by 88% Drowning is the #1 cause of unintentional death for children ages 1-4, and the second leading cause of unintentional death in children under 14 years of age. Seventy percent of African Americans don’t know how to swim and children in households where parents do not swim only have a 19% chance of learning to swim. Drowning ranks only second to car accidents for unintentional death in children. The fatal drowning rate for African American children is almost three times higher than white children, Latinx and Indigenous/native children have twice the risk of drowning as their white peers. These stark differences in ability are due to lack of access to swimming facilities, water safety, and swimming lessons. Physical and Mental Health A 175,000 square foot center was built at Plymouth and Lyndale Aves. N., the gateway to North Minneapolis Aquatic center with an Olympic-sized pool, teaching pool, and therapy pool An indoor track, workout areas, spin room, and multi-purpose gym A nutrition area, study areas, classrooms, and community meeting space Retail space with business opportunities promoting healthy life choices Economic Strength Destination and recreation center will attract 45,000 spectators, visitors, and families annually for athletic competitions. $5.2 million annual impact for the local economy 300-500 direct and indirect construction jobs worth $4.3 million over five years Nearly 60 year-round, part-time and full-time jobs will be created for residents in North Minneapolis TWO-PHASE PLAN V3 is in the first phase of the capital development project. Phase One 2017-2021 ($12 million goal) V3 completed a feasibility study, developed a business and marketing plan, purchased the property at 701 Plymouth Avenue North, completed design concepts for a 90,000 square foot sports center with HGA Architects and Engineers, acquired a 25-yard teaching pool and the Olympic trials pool from Omaha. Once complete, this renovation of the existing space will allow V3 to resume programming including swim lessons, water safety, aquatic fitness, physical therapy, lap swimming, club swimming, and community aquatic recreation. Phase Two 2022-2025 ($40 million goal - est.) After the initial renovation and relaunch of youth programs, V3 will demolish the building adjacent to the teaching pool to create a state-of-the-art fitness facility and community center. The building will feature running & biking tracks, weight training, and functional strength space as well as the 50-meter Olympic Trials Myrtha pool. V3 purchased the pool the US Olympic Team trials will use in June in Omaha, NE (postponed from 2020 to 2021). As the athletes depart Omaha knowing who will represent the USA at the Tokyo Olympics in July, the trials pool will be dismantled and transported to be installed at V3 Center in Minneapolis. This will be only the third Olympic size pool in the state of Minnesota and is already in demand for event rentals. In addition to the health and wellness components, the new building will also feature office, retail, homework, and non-aquatic training spaces, and will integrate the existing building into a streamlined design. By the end of 2020, we had raised $6 million from private foundations and individuals for the property purchase, acquisition of the pools, design concepts, business, and marketing plans. In early 2020, we received a $4M anonymous donation and a pledge in the same amount to drive matching gifts and raise the funds needed to complete Phase One construction (the instructional pool). The donor will match in increments of $500,000. To date, we have raised $201,000 toward the first match increment of $500,000 and $4,201,000 toward the Phase One goal of $8 million. We are in preliminary conversations about financing through municipal bonds and actively fundraising from corporations, foundations, and individuals to complete Phase One. For Phase Two we are investigating New Market Tax Credits, government investments, and Naming Sponsor/Partner Opportunities as well as continuing.