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What is the Georgian Bay Energy (GBE) Fund, and what is it used for?

April 26, 2017energy fund gbe georgian bay Used

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What is the Georgian Bay Energy (GBE) Fund, and what is it used for?

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A. The GBE Fund was created when the assets of Georgian Bay Energy, a publicly owned utility, were sold to Hydro One. The proceeds from the sale were invested and Council has committed to preserve the capital of this investment and use the interest to help fund large legacy projects such as the Regional Recreation Centre. These funds were previously allocated to projects such as the “Big Dig” and the Owen Sound Police Services building.