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.”

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Central Alberta protester supports rail blockades across Canada

A protester, with a chain around his neck, stood near Samson Cree… Continue reading

Alberta and two First Nations make deal for proposed oilsands mine

EDMONTON — The Alberta government has struck deals with two northern Alberta… Continue reading

Blockades remain in place as Wet’suwet’en hereditary chiefs returning to B.C.

Hereditary chiefs from Wet’suwet’en First Nation are expected to return to British… Continue reading

Fort Macleod, Alta., to get special advance screening of new ‘Ghostbusters’ film

There will be something strange in the neighbourhood of Fort Macleod, Alta.,… Continue reading

Hundreds turn up at Coldest Night of Year walk in Red Deer

It wasn’t the coldest night of the year, which probably helped the… Continue reading

Fashion Fridays: The 8 best quality online stores! Shop the ultimate sales

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Your community calendar

Feb. 19 A Liberation of Holland event is being held at the… Continue reading

Wranglers win wild Game 1 double OT thriller over Red Deer Vipers

The best-of-seven series continues Sunday in Sylvan Lake

Kings and Queens basketball triumph over Ambrose, keep playoff hopes alive

Guard Sandra Garica-Bernal sets new Queens all-time steals mark

Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world… Continue reading

View of a longtime economist: Slower growth but no recession

WASHINGTON — In this high-profile election year, the U.S. economy boasts an… Continue reading

Amy, chasing: Klobuchar, already beating odds, faces uphill climb

WASHINGTON — It’s been a running gag ever since she launched her… Continue reading

B.C. money laundering inquiry to begin amid hopes for answers, accountability

VANCOUVER — British Columbia’s attorney general hopes an inquiry into money laundering… Continue reading

Russian spy case documents missing or destroyed, Canada’s info watchdog finds

OTTAWA — Federal officials lost or possibly destroyed sensitive records about the… Continue reading

Most Read