Brock Township will soon cash in on a new funding formula for a provincial grant.
In a notice to the Township that is included on the agenda for today’s (Nov. 6) finance committee meeting, the Ministry of Agriculture, Food and Rural Affairs notes that Township is set to receive additional funding through the Ontario Community Infrastructure Fund in 2019 and 2020.
The municipality is scheduled to receive $265,000 in 2018, which is slated to jump to $405,000 in 2019 and $411,000 in 2020.
Provincial support for the program – which is designed to help rural municipalities upgrade roads, bridges and water systems – is expected to jump to $300 million by 2019.
“The Ontario Community Infrastructure Fund formula funding is designed to recognize that small rural and northern communities have different infrastructure needs and economic conditions. Communities with more core infrastructure and more challenging economic conditions receive proportionately more funding,” reads the notice sent to the Township.
“The province has used the best available data in the calculation of the grant allocations, as detailed in the attached notice. The difference between your community’s 2019 and 2020 grants reflects changes in the value of your core infrastructure and/or economic conditions relative to other eligible communities.”