Title
2024 Local Growth and Sustainability Grant (LGSG) Application
Proposed Motion
That Administration be directed to submit an application for the Local Growth and Sustainability Grant for the Bevington Roadway Extension in Acheson Zone 4 (from north of Hwy 16A to south of 114 Avenue)
Body
Administration Recommendation
Administration supports the proposed motions
Purpose
Upon Council's approval, Administration will apply for the Local Growth and Sustainability Grant
Summary
The Local Growth and Sustainability Grant is intended to help mid-sized local governments address growth pressures resulting from rapid population, tourism and economic growth; attract investment and talent to Alberta by providing the appropriate infrastructure; create jobs; address housing challenges; and develop local economies.This recommended project fits the grant criteria for economic expansion. It would drive and increase economic activity and create jobs within the County. It would also be a significant benefit to Acheson with the improvement of infrastructure in the area.
This application would be categorized as a Growth Component project which has the following restrictions:
- Requires a Council Resolution
- Minimum project size is $1 million.
- Project must be “shovel-ready”, and project benefits must be realized within two years of project completion.
- Construction must begin by September 30, 2025.
- Supports grant stacking of up to 30% of project costs from other provincially-delivered grant programs.
- Approved projects will be cost shared with the Local Growth and Sustainability Grant funding.
The estimated project cost is $3 million. This project is currently in its detailed design phase and will be ready to construct in spring/summer 2025. The County portion would be eligible for cost recovery through off-site levy.
Approval for moving forward with the project itself and remaining funding to be formally approved by Council if and when the application is successful.
The application deadline is November 29, 2024.
Strategic Plan/Policy/Legal/Staff Implications:
Administration will contribute time and effort as the project moves forward
Financial Impact:
Cost: N/A
Source of Funding: N/A