Title
Canada-Alberta Building Canada Fund - Small Communities Fund
Grant Application for Acheson Storm-Water Outfall Construction
Proposed Motion
That Council direct Administration to submit a "Canada-Alberta Building Canada Fund - Small Communities Fund" grant application to assist in funding the Acheson Storm-Water Outfall project.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
One of the conditions outlined in the grant approval process of the Small Communities Fund is that a resolution of Council is required and we are to provide the Resolution Number (RFD Number) and the date by which it was approved. Of important significance is the due date for the grant application, that is April 2, 2015.
Summary
Administration requests Council provide an approval to apply for the aforementioned grant and include the Acheson Storm-Water Outfall as the identified project. The available funds for this grant include a maximum of $3,000,000 of Federal and $3,000,000 of Provincial funding to which Parkland County must match with an additional $3,000,000. The total amount the County may be eligible to receive is $6,000,000 of new money. Given the size and scope of the identified project and considering funds previously committed ($28,240,700) through the 2015 Budget approval process, Parkland County would be able to provide it's portion of the project costs. In addition, any costs greater than $9,000,000, which is the sum for all parties' commitments, would be Parkland County's responsibility as identified within the grant application. This grant opportunity was not originally accounted for when Parkland County was considering methods to cover the full costs of the project, therefore, the commitment to cover amounts over the full grant eligibility amount is acceptable and can be appropriately managed within the approved 2015 budget. Additional information on the purpose for this requested Council direction can be identified within the attached supporting document. On Page 5 - Section 2.3 under Program Eligibility, the last sentence reads: "In all cases the application must show that a Council resolution was passed to support the application".
Strategic Plan/Policy/Legal/Staff Implications
Infrastructure - Ensure Infrastructure keeps pace with growth
Economy - Actively explore partnerships and potential revenue streams that will enhance our future growth and reduce our reliance on property taxes
Financial Impact:
Cost: $28,240,700
Source of Funding: Small Communities Fund (1/3 Federal) $3,000,000
Small Communities Fund (1/3 Provincial) $3,000,000
Off-Site Levies (Collected to date) $6,000,000
Debenture Borrowing $16,240,700