Red Deer may explore capital fund

A Red Deer city councillor wants to explore setting up a community capital fund to respond to financial requests from local organizations.

A Red Deer city councillor wants to explore setting up a community capital fund to respond to financial requests from local organizations.

Tara Veer will introduce the motion at the next council meeting on Feb. 4.

She said that over the last three years, city council has received numerous requests from community organizations like Red Deer College and the Westerner for capital grants or loans for community projects.

Sometimes council has responded with “yes,” “no” or simply “not yet.”

But Veer said council does not have a clear policy for granting or denying community grants or loans.

Veer said her hope is that a fair, equitable and transparent process be established so both the community groups know what to expect when they go to council for small and large requests.

Veer said this would provide accountability to the public and provide greater transparency of the municipality.

“It also helps towards the broader financial substantiality picture of the city,” said Veer.

“There’s a limit to how much debt the city can take on. Yet we don’t have any dedicated community capital reserve. When these grants or loans requests have come forward, there’s not really a dedicated area in the budget for community capital.”

Determining where the money will come from will be part of the discussions. Veer said council needs to strive for a balance.

“My motion isn’t prescriptive exactly on what we need to do because I think there’s a couple different strategies that we could look at,” said Veer.

“But I think it’s imperative that we have the discussion sooner rather than later. Regardless of the strategies we employ, we have to find the right balance between the amount that is allocated to reserves without placing onerous financial expectation on the community.”

crhyno@bprda.wpengine.com

Just Posted

Alberta is now below 3,000 active cases of COVID-19, as the province reported 2,639 Wednesday. (NIAID-RML via AP)
Red Deer below 100 active COVID-19 cases for first time since March

69.7 per cent of Albertans 12 and over have at least one dose of the COVID-19 vaccine

A Comox Valley 55+ baseball team isa being organized for the 2021 season. ADOBE STOCK IMAGE
18U AAA Carstar Braves start season strong

The Red Deer Carstar 18U AAA Carstar Braves started the Baseball Alberta… Continue reading

(Contributed image).
Online poetry reading to benefit Red Deer women experiencing period poverty

The Period Promise Poetry Powerhouse is a central Alberta collective of some… Continue reading

Tampa Bay Lightning left wing Alex Killorn (17) flips a shot on New York Islanders goaltender Semyon Varlamov (40) during the second period in Game 1 of an NHL hockey Stanley Cup semifinal playoff series Sunday, June 13, 2021, in Tampa, Fla. (AP Photo/Chris O'Meara)
Russian goalies highlight Lightning-Islanders series

NEW YORK — Semyon Varlamov is the wily veteran, coming off a… Continue reading

Canada's Felix Auger-Aliassime reacts during his ATP Tour Singles, Men, Round of 16 tennis match against Switzerland's Roger Federer in Halle, Germany, Wednesday, June 16, 2021. THE CANADIAN PRESS/Friso Gentsch-dpa via AP
Canadian Felix Auger-Aliassime upsets Roger Federer in second round of Noventi Open

HALLE, Germany — Canada’s Felix Auger-Aliassime earned one of the biggest victories… Continue reading

A course official keeps out of the sun on the seventh green during a practice round of the U.S. Open Golf Championship, Tuesday, June 15, 2021, at Torrey Pines Golf Course in San Diego. (AP Photo/Gregory Bull)
A different US Open than imagined at Torrey Pines

The spectacular ocean vistas will fill TV screens as usual, along with… Continue reading

A commuter pumps gas into their vehicle at a Esso gas station in Toronto on Tuesday, June 15, 2021. Statistics Canada will say this morning how fast prices rose in May compared to the same month one year earlier amid expectations of a hot inflation figure for the second month in a row. THE CANADIAN PRESS/Tijana Martin
Annual inflation rate climbs to 3.6 per cent in May, highest in a decade

OTTAWA — Prices across the country rose at their fastest annual rate… Continue reading

A plane is silhouetted as it takes off from Vancouver International Airport in Richmond, B.C., May 13, 2019. THE CANADIAN PRESS/Jonathan Hayward
Report calls for airlines to refund passengers for flights halted due to COVID-19

OTTAWA — Better protections for the rights of air travellers, immediate refunds… Continue reading

Minister of Environment and Climate Change Jonathan Wilkinson speaks to media during the Liberal cabinet retreat at the Fairmont Hotel in Winnipeg, Sunday, Jan. 19, 2020. Wilkinson says Ottawa will step in to conduct assessments of new coal mines that could release the contaminant selenium.THE CANADIAN PRESS/Mike Sudoma
Ottawa to review new steelmaking coal projects in Alberta’s foothills for selenium

The federal government will step in to conduct an environmental review of… Continue reading

(Black Press Media file)
‘A poor choice’: Alberta lawyer reprimanded for allowing nude photos in custody case

EDMONTON — A hearing committee of the Law Society of Alberta says… Continue reading

Lethbridge Police Chief Shahin Mehdizadeh speaks during a news conference in Lethbridge, Alta., on Wednesday, March 10, 2021. THE CANADIAN PRESS/David Rossiter
‘Be patient’: Lethbridge police chief discusses controversies at virtual town hall

LETHBRIDGE, Alta. — The head of police in a southern Alberta city… Continue reading

Most Read