By Chris Jones/The Oshawa Express
Healthcare and post-secondary institutions are now able to get a little help from the region.
Regional council has approved the implementation of a new policy allowing grants to healthcare and post-secondary institutions.
Durham will repeal its current no grants policy, and replace it with the Durham Region Community Investment Grant Policy.
The grants will be awarded at the discretion of regional council, and will be subject to approval during the yearly budget planning process.
On a case-by-case basis, funding will continue to be considered for one-time special projects which apply to or support regional programs, including conservation authorities, and initiatives towards economic development, the environment and more.
According to a staff report provided to council, all grant requests must be sent in writing to commissioner of finance Nancy Taylor.
Each business case presented to Taylor must align with the region’s priorities, and define the benefits of the project, including those to the region.
They must also present an analysis of alternate options for funding, and have sound technical, economic, financial, and cost-benefit analysis.
Applicants must provide be a detailed review of available financing and long-term financial implications, as well as an assessment of potential risks.
Healthcare and post-secondary institutions must receive provincial project approval to receive a grant from the region.
Healthcare institutions must also commit at least 70 per cent of provincial funding to total project costs at the time of the request, and the proposed financing needs to include donations from the community.
The region will provide 25 per cent of what benefits the community, or a maximum of 7.5 per cent of the total project cost.
Post-secondary institutions also need to include donations from the community, and again the region’s contribution will be a maximum of 7.5 per cent of the project’s total cost.