Difference between revisions of "Opportunities Grant"
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| − | The '''Opportunities Grant''' is funding from the GNWT to the Fort Providence community Groups (Dene and Metis) to allow them to develop economic benefits and opportunities related to the Bridge. Once the Bridge is opened, they will receive $200,000 each April for 35 years, a total of $7 million. | + | The '''Opportunities Grant''' is funding from the GNWT to the Fort Providence community Groups (Dene and Metis) to allow them to develop economic benefits and opportunities related to the Bridge. Once the Bridge is opened, they will receive $200,000 each April for 35 years, a total of $7 million. The Grant is part of the terms of the [[Community Opportunities and Involvement Agreement]] |
This appears to effectively be a replacement for the minimum guaranteed [[equity return]] from the original concession agreement - the authorized maximum $5 million equity would have produced a minimum of $225,000 annually. However, the community groups actually only had around $1.4 million in [[Invested Equity]], and their minimum annual return would only have been around $63,000. Given the extra $15 million in extra costs to be paid off, and current lower traffic levels, it seems likely this new $200,000 a year is rather more than would have been paid out under the original concession agreement formula. | This appears to effectively be a replacement for the minimum guaranteed [[equity return]] from the original concession agreement - the authorized maximum $5 million equity would have produced a minimum of $225,000 annually. However, the community groups actually only had around $1.4 million in [[Invested Equity]], and their minimum annual return would only have been around $63,000. Given the extra $15 million in extra costs to be paid off, and current lower traffic levels, it seems likely this new $200,000 a year is rather more than would have been paid out under the original concession agreement formula. | ||
Latest revision as of 04:28, 12 August 2010
The Opportunities Grant is funding from the GNWT to the Fort Providence community Groups (Dene and Metis) to allow them to develop economic benefits and opportunities related to the Bridge. Once the Bridge is opened, they will receive $200,000 each April for 35 years, a total of $7 million. The Grant is part of the terms of the Community Opportunities and Involvement Agreement
This appears to effectively be a replacement for the minimum guaranteed equity return from the original concession agreement - the authorized maximum $5 million equity would have produced a minimum of $225,000 annually. However, the community groups actually only had around $1.4 million in Invested Equity, and their minimum annual return would only have been around $63,000. Given the extra $15 million in extra costs to be paid off, and current lower traffic levels, it seems likely this new $200,000 a year is rather more than would have been paid out under the original concession agreement formula.
