HomeMy WebLinkAboutFSD-009-21Clarington
Staff Report
If this information is required in an alternate accessible format, please contact the Accessibility
Coordinator at 905-623-3379 ext. 2131.
Report To: General Government Committee
Date of Meeting: February 16, 2021 Report Number: FSD-009-21
Submitted By: Trevor Pinn, Director of Financial Services
Reviewed By: Andrew C. Allison, CAO By-law Number:
File Number: Resolution#: GG-196-21
Report Subject: Newcastle BIA Wreath Request
Recommendations:
1. That Report FSD-009-21 be received;
2. That the request from the Newcastle BIA for $25,000 from the Newcastle BIA Reserve
Fund (the "West End Money") for the purposes of replacing the current wreaths, as
attachment 1, be approved; and
3. That all interested parties listed in Report FSD-009-21 and any delegations be advised
of Council's decision.
Municipality of Clarington
Report FSD-009-21
Report Overview
Page 2
The Municipality has received a request from the Newcastle BIA to access funds from the
"West End Money" which is being held in a Reserve Fund on their behalf. Staff are seeking
approval to release these funds.
1. Background
1.1 Staff recently received a letter, included on this agenda, from the Newcastle BIA dated
January 27, 2021 requesting $25,000 from the "West End Funds" as per a resolution of
the BIA dated January 26, 2021
1.2 The minutes of the meeting indicate that it was moved to "...request $25,000 to replace
the current wreaths with new light decor from the West End money." The "West End
money" is held in the Newcastle BIA Reserve Fund.
1.3 The Newcastle BIA Reserve Fund was established in 2007 through a compensation
payment from the Bowmanville West Developers to the Orono and Newcastle BIAs.
Provisions were included in the subdivision agreement that established the fund.
1.4 Subsequently, the Newcastle and Orono BIAs agreed on how the monies would be
distributed. The BIAs also made it clear that they did not want the funding to be used for
the CIP grant programs.
1.5 The only criteria for how the funding should be used is set out below:
"The Municipality shall deposit such funds in a reserve account for future disbursement
to the boards of management of any one or more Business Improvement Areas in the
Municipality to fund programs or to provide assistance to the Business Improvement
Area, and/or to fund or to assist in the funding of grant programs to implement the
provisions of Community Improvement Programs applicable to any one or more
business centres in the Municipality as the Council of the Municipality in its discretions
considers to be appropriate."
1.6 In 2007, $70,000 was deposited into the Reserve Fund, this was followed by five
payments of $17,550 from 2009 to 2013 for a total of $157,750. Since inception, the
reserve fund has earned over $33,300 in interest which stays within the Fund for the
use of the BIA.
1.7 To date, the BIA has utilized approximately $82,000 of funds for various projects to
enhance the downtown area of Newcastle.
Municipality of Clarington Page 3
Report FSD-009-21
2. Use of the Newcastle BIA Reserve Fund
2.1 Based on the above criteria, in paragraph 1.5, it would be acceptable for these funds to
be used to replace the existing wreaths. This is also consistent with past uses.
2.2 The Newcastle BIA Reserve Fund has approximately $110,000 available at December
31, 2020. There are sufficient funds in the Reserve Fund to accommodate this request
by the BIA.
3. Concurrence
This report has been reviewed by the Acting Director of Planning and Development
Services who concurs with the recommendation.
4. Conclusion
It is respectfully recommended that Council approve the release of funds to the
Newcastle BIA.
Staff Contact: Trevor Pinn, Director of Finance/Treasurer, 905-623-3379 ext. 2602,
tpinn@clarington.net
Attachments:
Attachment 1 — BIA Request Letter
Interested Parties:
The following interested parties will be notified of Council's decision:
a. The Newcastle Downtown Business Improvement Association
Newcastle Downtown Business Improvement Association
20 King Ave. W. Unit # 10
Newcastle 4N L 1 B 1 H7
www.villa eofnewcastle.ca
"More than our history"
January 27, 2021
Mayor Foster and Members of Clarington Council:
Please accept this letter as a formal request from the Newcastle BIA to release funds from the
Newcastle BIA "West End Money" held in trust for us by the Municipality.
We would like you to release $25,000 per the motion unanimously passed at the January 26, 2021
meeting of the Newcastle BIA. A copy of said Minutes are attached.
With sincere thanks,
Valentine Lovekin, President