DEVELOPMENT FUNDS
Objective
The objective Development Funds are to enhance the tourism industry along through investment in new tourism infrastructure and programming and economic development initiatives in key areas, Borden-Carleton and South Shore. Eligible Applicants include Community and non-profit organizations can apply to the Fund for grants towards projects that meet the objective of the fund. For profit business may be eligible if they demonstrate that the proposed activities will lead to direct incremental employment within the region. Projects must be considered strategic in nature and provide benefits to the entire South Shore region. Activities should be incremental in nature and must increase the capacity and sustainability of the applicant or intended use. For example: general repairs, annual marketing or operational costs will not be considered eligible.
Eligible Activities
Activities that will be considered include, but are not limited to the following:
● Building renovations or new construction.
● Purchase of land and/or buildings.
● Community park and recreation facilities.
● Community enhancements.
● Professional fees.
● Research projects.
● Marketing (must be incremental part of a strategic initiative)
Funding Criteria
In order to maximize the benefits of the fund, applicants are expected to explore and leverage other sources of available funding where possible. As such, the maximum allowable contribution will be 20% of eligible costs, to a maximum contribution of $25,000. Contributions in excess of 20% of eligible costs may be considered if the project is deemed strategic in nature, and all other funding options have been exhausted.
Application Review
All applications will be reviewed on an “as required” basis by a committee with equal representation from the Regionand Central Development Corporation. The recommendations of the Committee will be forwarded to the Central Development Corporation Board for final approval.