After announcing it was in serious financial difficulty in late September, the Tranzac got to work on a series of fundraising initiatives that appear to have paid off. With a goal of raising $40,000 by the new year, the club has reached the halfway point via special concerts, online donations, and a double in membership.

But the most significant development at the Tranzac is that an anonymous donor has offered to help the club re-finance their mortgage so as to make them eligible for a City of Toronto Culture Build Grant, which requires an investment by the club before the City will match the funds. According to the club's GM, Michael Listen, a grant of this nature would allow the Tranzac to invest in some much needed structural work.

Despite the good news, fundraising efforts will continue as the club works to raise funds to cover more immediate expenses like payroll, utilities and its mortgage.

Via NOW Magazine.