Lake of Bays progressing with it's Community Improvement Plan Private Sector Program
Lake of Bays Council was advised the Town is starting to make progress with it’s Community Improvement Plan (CIP) Private Sector Program, in the November 12, 2024, Council meeting.
Economic Development Co-ordinator, Morgan Lonsdale, updated Council about the status of the new program that was adopted last May.
According to Lonsdale, Council “allotted $100,000 towards the private sector investment programs to encourage re-investment in privately owned properties in the community improvement project areas, especially where activities will enhance the public realm and make a positive contribution to the vitality of settlement areas.”
She said that staff have received the first intake in the third quarter of the CIP Program (July, August, and September). A business in the Township applied for a grant for $5,000, to contribute to total project costs of $18,731, to replace single paned windows with double paned ones, for greater energy efficiency to operate their business year-round.
She added that the application meets funding guidelines, and program funding is available from the Incentive Program Stream for expansion and diversification of existing businesses as a project grant.
Lonsdale indicated that staff have also received applications from other interested local business owners. She said, “Staff will work with them for a successful outcome,” and that they would also make notes for potential amendments to the program which may require changes.
She added that staff will also continue outreach and communication about the program to other local businesses that haven’t been reached.
She also announced there will be two intakes for 2025, which will be in the first quarter (January to March), and the third quarter (July to September).
Mayor, Terry Glover, said, “I hope that now that word gets out that this is working, and I can only imagine that [as] people will start to talk, we’ll see more people applying. I hope.”
Council approved staff’s funding recommendation to provide financial assistance to the business and authorized the Director of Finance/Treasurer to prepare and execute the agreement for the Township.
