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Belmont Savings Bank Foundation Pledges $200,000 Matching Grant for Underwood Pool Project

Posted on September 12th, 2014 at 4:22 PM

BELMONT - Belmont Savings Bank Foundation today announced it will match dollar for dollar contributions to the Underwood Pool project up to $200,000. Specifically, the bank foundation has committed to contributing $200,000 which – if matched – would fully fund the remaining $400,000 needed to complete the project.

Recently, plans to rebuild Belmont’s Underwood Pool stalled after the winning bidder dropped out, potentially leaving the Belmont community without a public swimming area next summer.

“As a child, I used the pool and, subsequently, my children did as well, which is why I take pride in announcing this matching grant through our Foundation,” said Robert Morrissey, Chairman of the Board of Directors of Belmont Savings Bank as well as the Belmont Savings Bank Foundation. “With six weeks to go until the October deadline, it is imperative our community shows its support for this beloved piece of Belmont’s history.”

The Underwood Pool was originally constructed in 1912, and is believed to be the first public outdoor pool in the United States. Belmont had approved debt exclusion for a new pool to be built, with the grand opening originally scheduled for June 2015.

“We are grateful to our partners at Belmont Savings Bank, who understand how much Belmont residents care about the Underwood Pool, and have demonstrated a true commitment to making a positive difference in the community,” said Ellen Schreiber, who is helping lead the campaign. “We urge businesses and individuals alike to join Belmont Savings Bank in donating by October 31.”

Under the current circumstances, the Underwood Pool Building Committee was faced with redesigning and rebidding the project, in effect cancelling the pool’s summer 2015 season. The involvement of the Belmont Savings Bank Foundation enables supporters to raise the necessary funds in order to accept the current lowest bid before the upcoming October deadline.

“Supporting the rebuilding of Underwood Pool, the oldest municipal pool in the country, is one of those rare opportunities to truly help the community, and improve the quality of life for Belmont citizens,” said Bob Mahoney, President and CEO of Belmont Savings Bank. “I am thrilled that our Foundation agreed to support the Underwood Pool, which has long been a touchstone in our town.”

Checks can be dropped off at each Belmont Savings branch. Checks should be payable to “Winn Brook PTA for the Underwood Pool” which serves as the non-profit (501c3) fiscal agent for Belmont Partners in Play.

Belmont Partners in Play is coordinating the fundraising campaign, with the total amount used exclusively for the new pool. Each donation is tax-deductible.

Checks can also be mailed to Ellen Schreiber, 49 Sandrick Road, Belmont, MA 02478. If you have any questions, please contact Ellen at ellensch@verizon.net or 617-290-6216.

To donate online, please visit www.underwoodpool.com

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