As Administration continues to monitor and quantify the impact of the COVID pandemic to the City’s finances, there are still many unknowns calling for the use of significant assumptions. This presents a challenge in providing any degree of certainty to the full financial impacts to the Corporation as the situation continues to change daily. This risk is mitigated by seeking all necessary approvals in this report required to secure, report and pursue funding under the Federal- Provincial Safe Restart municipal operating pressures stream.
Financial Matters:
The financial impacts brought upon by the COVID-19 Pandemic were presented in City Council Report C134/2020 on July 13, 2020. The projected total net financial impact for the fiscal year ending December 31, 2020 of the COVID-19 Pandemic to the City and Transit Windsor, is approximately $29.7M. Since Phase 1 of the Safe Restart Agreement only provides funding of approximately $12.0M. Administration will be requesting further funding support through the parameters set forth for Phase 2 funding. Administration will provide further reports to City Council on the additional funding levels being requested under Phase 2 as the year progresses and further information and updated financial results become available.
Consultations:
Conclusion:
The approval of the recommendations in this report will allow Administration to immediately complete the necessary requirements to obtain Phase 1 funding of just over $12M as well as appropriately position the City to pursue additional Phase 2 funding for the additional municipal financial impacts resulting from COVID-19 consistent with the timelines laid out by the Province.
Planning Act Matters:
Approvals:
| Name | Title |
|---|---|
| Melissa Osborne | Senior Manager Asset Planning |
| Joe Mancina | City Treasurer & CFO |
| Onorio Colucci | Chief Administrative Officer |
Notifications:
| Name | Address | |
Appendices: