County calls for comments concerning Cultivation Corporation

(Gazette file photo)

The municipality is welcoming comments on the draft business case study for the Prince Edward County Cultivation Corporation.

The County is establishing a new non-share capital corporation for the primary purpose of delivering current and future grant programs.

While initially conceived as the vehicle to disburse grant funding to young and new farmers, the Prince Edward County Cultivation Corporation has the potential to support a number of our other strategic priorities,” says Robert Quaiff, Mayor, County of Prince Edward.

County Council approved the establishment of the non-share capital corporation in May 2018. (The staff report recommending Council create the new corporation is posted online). In addition to disbursing the grants, the corporation will assist with: Promoting the establishment, growth, and development of farms and businesses in Prince Edward County; Providing financial assistance to farmers, entrepreneurs, and businesses in Prince Edward County; and, Delivering grants in support of community improvement initiatives, sustainability challenges and built heritage in Prince Edward County.

The municipality is creating the Prince Edward County Cultivation Corporation under the Corporations Act of Ontario, as authorized under the provisions of the Ontario Municipal Act. The business case study, a legislative requirement, outlines the corporations anticipated benefits, linkages to municipal economic development objectives, and potential to facilitate fiscal sustainability of small businesses.

The draft business case study is posted on the County’s public consultation webpage. The public can submit comments to Amanda Carter, Director of Finance, via email or in- person at the Edward Building (280 Picton Main Street, Picton).

The deadline to submit comments is Friday, November 30.