Money will fund CFDC for another two years
May 29, 2009 - 08:48 AM
Scott Howard
Business and economic development in the area has been bolstered by last week's announcement of two years of continued funding for the South Lake Community Futures Development Corporation.
Haliburton-Kawartha Lakes-Brock MP Barry Devolin came to Cannington last Wednesday with a novelty cheque in hand to announce $1.152 million in funding for the South Lake CFDC, which covers Brock, Georgina and East Gwillimbury.
The funds are part of the $20-million announcement made on May 1 toward the renewal of the Eastern Ontario Development Program for two years to build on the strengths of the regional economy and create jobs.
"I always enjoy talking about CFDCs," said Mr. Devolin.
"I feel they're one of the success stories in rural Canada."
CFDCs provide services to enhance local economic development and small business growth, including: access to capital, business services, support for community-based projects, strategic community planning and socio-economic development.
Since 2004, the local CFDC has provided nearly $2.7 million for economic development. Of that total, more than $646,000 has been disbursed in Brock Township, including grants to the Cannington Dog Sled Races and the Beaverton 125h anniversary celebrations.
"If you want money to get out in the community...the CFDCs are well positioned to do it," Mr. Devolin said.
While Brock has received roughly 25 per cent of the total money handed out thus far, South Lakes CFDC chair Nick Tanquiy explained that funding is allocated based on the strength of each proposal.
"We don't allocate money by municipality, we allocate it based on merit," he said.
The approval of funding applications falls to a board of directors comprised of volunteers from each community. That allows the agency to work independently of the federal government.
"We've never had anyone from Ottawa tell us how to spend the money," Mr. Tanquiy said.
"Those decisions are all made locally."
For more information on the South Lake CFDC, visit its web site at www.southlakecfdc.org
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