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    Agenda item for a meeting of the Council of the Township of Chatsworth on September 7, 2016

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    Agenda item for a meeting of the Council of the Township of Chatsworth on September 7, 2016

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    14 views13 pages

    Agenda 10.1 OCIF Funding Redesign

    Uploaded by

    massieguy
    Agenda item for a meeting of the Council of the Township of Chatsworth on September 7, 2016

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 13
    Ministry of Aiclture, Ministre de "Agree, de Foodana Runt afare EAlimentton et (ds Ata orl soe iss Ontario SRS eee Emailed Juiy 13, 2016 Dear Chief Administrative Officer, Clerk or Treasurer “Ontario is ievesting more than $137 bilion in public infrastructure over the next ten years. “This wil esultin an overall nvestment in infrastructure of about $160 billion over 12 years, ‘which started in 2014-15, This 12-year commitment includes $31.5 billon in dedicated ‘funds through Moving Ontario Forward. About $15 billon willbe dedicated to transi, ‘transportation, and other prion infrastructure outside the Greater Toronto and Hamiton ‘Area (GTHA) _AS a key step in implementing ths plan, in the summer of 2018, the Province consulted with communities across Ontario to ensure local priorities inform futher Moving Ontario Forward investments ouside the GTHA. In response to consultation feedback and the progress municipalities have made on asset management pianning, the Province is Expanding he Ontario Community Infrastructure Fund (OCIF) and updating its design. The total Fund is increasing from $100 milion per year to $300 milion per year by 2018-19. ‘On July 4, 2016, Ontario launched the expanded OCIF. As part ofthis launch, the Province continues to provide support for municipal infrastructure projects by: ‘+ Increasing the amount of stable, predictable formula-based funding from $50 milion pr year fo approximately $95 milion in 2017, $130 millon in 201@ and $200 milion ‘per Year in 2019 and thereafter. ‘© Re-designing the application-based component o act as a "top-up" component allowing smaller municpalties wih ciica infrastructure projects tu subrit progosals to bring their total OCIF funding up to a maximum of $2 millon over two Yeats, About $50 milion is avalable for the 2016 intake. In adetion 2 enhanced funding being provided through the expanded OCIF, the Province has updated the program design based on feedback from municipalities: A. Highlights of the new formula-based component of the OCIF + Recipierts may accumulate annual formula-based grants for up to five years to ‘address larger priory infrastructure projects. Attached you wil ind a copy of your location notice, Please note this Information should be kept confidential until, ‘such time as the government has had an opportunity to announce your funding allocation. *+ Eligible recipients are guaranteed to receive a minimum of $50,000 per year,

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