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Council Report: C 69/2020

Subject: Application for the Southwestern Ontario Development Fund Ward 9

Reference:

To: Mayor and Members of City Council

Recommendation:

I) THAT City Council APPROVE Administration to submit an application for the Southwestern Ontario Development Fund (the "Grant") for the project identified in this report; and,

II) THAT City Council APPROVE Administration to submit an application for the Southwestern Ontario Development Fund (the "Grant") for the project identified in this report; and, THAT City Council CONFIRM their commitment to the Project submission in the amount of $4,000,000 (2020 dollars) as outlined in the Financial Matters section of this report that is consistent with the proposed phased development and that would also allow for additional site development; and,

III) THAT the funding plan BE PRESENTED and City Council APPROVE the following funding totalling $2,500,000 as the City's matching funding for the municipal services work required in this area:

a) $600,000 of the approved 2020 Sewer Surcharge funding from the Grant Matching and Mitigating Inflationary Pressures project (FIN-001-19) and;

b) $1,900,000 identified in 2024 Pay-As-You-Go funding for the Central Box EA and Road Infrastructure project (ENG-005-17) be pre-committed and directed to this project, and;

IV) THAT City Council DIRECT Administration to ensure during the 2021 Capital Budget development, funding in the amount of $1,900,000 to be allocated to the