New Question* Where does all the funding come from to total $15 Million, and what happens to the funds should the project not proceed?
It is the clear position of the Civic Centre Committee that no construction will be started until all the funds required are pledged and/or in the bank. The goal of our current Fund-Raising Campaign is to raise $3.5 Million. Added to the Town of St. Stephen’s commitment of up to $2.1 Million, this potential $5.6 Million will make up the community’s portion of the cost of our new civic centre. The Provincial and Federal Governments have indicated that they will each match the monies raised by the Charlotte County Civic Centre Committee. Discussions already held with both Provincial and Federal representatives indicate a favourable response. No formal agreement has been reached since the Town of St. Stephen’s commitment, and those of the Provincial and Federal Governments are all contingent upon the success of the present fund-raising campaign. Again, should the project not proceed for any reason, all funds will be fully reimbursed.
Related Questions
- What happens when NRCan has committed all of its funding to projects that have Technical Project Information applications in review? Will it continue to review more applications?
- What are the funding plans for the difference between funds raised philanthropically and the overall cost of the project?
- What happens to the funds remaining at the end of the funding period in 2009?
