GRANT APPLICATION GUIDE

Transcription

1 Overview The SIDIT Grant Prgram prvides nn-repayable funding fr municipalities, reginal districts, First Natins, registered nn-prfit scieties, institutins, and industry assciatins t supprt reginally strategic investments in ecnmic develpment prjects that will have lng-lasting and measurable reginal benefits fr the Suthern Interir. Please nte that prpsals frm private interests d nt qualify fr grants. Private interests include all frms f business wnership such as crpratins, partnerships, jint ventures and sle prprietrships. Strategic Pririties The fllwing were identified as the strategic pririties that will be cnsidered by the SIDIT Bard f Directrs in their review f grant prject prpsals. Cntributin twards ecnmic sustainability f small cmmunities Reginal impact Realistic measurement criteria established t assess prject utputs Jb creatin, jb preservatin, r enhancement Ecnmic diversificatin Leveraging ther funds Filling funding gaps Aviding verlap and duplicatin Ecnmic merit Research and Develpment leading t cmmercializatin Strategic initiatives Ensuring gegraphic sensitivity in the disbursement f SIDIT funds Fund Disbursement: Annual Grant Funding will be determined based n SIDIT s investment returns and peratinal perfrmance. Grant maximums are $25,000 per applicant. Grant Eligibility The fllwing areas are mandated targets fr SIDIT grant funding supprt: Agriculture Ecnmic develpment Energy Frestry Mining Olympic pprtunities Pine beetle recvery Small business Turism Transprtatin Last update March 8, 2016 Page 1 f 7

2 With Emphasis n: The develpment f strategic alliances Research and develpment initiatives that lead t increased cmmercial activity Arts and culture initiatives that demnstrate measurable ecnmic impact Initiatives that cntribute t small cmmunity sustainability Initiatives that have a reginal impact Initiatives that result in sustainable jb creatin, jb preservatin, r enhancement Initiatives that cntribute t the diversificatin f the ecnmy Public/private sectr partnerships (P3s) Ineligible Prjects The Trust has identified the fllwing as being ineligible fr financial supprt frm the Trust: Stand alne feasibility and marketing studies Health studies Educatin facilities and infrastructure Religius institutins Activities which d nt cmply with lcal, prvincial r federal legislatin Majr spnsrships f events in which SIDIT is nt directly invlved Plitical dnatins Cntrversial initiatives with mral, scial, religius r public safety cncerns Prjects that primarily fund scial initiatives (cmmunity beautificatin prjects, dwntwn revitalizatin prjects, signs, trails, pedestrian bridges, etc) Prjects that benefit a narrw gegraphic area r have a limited impact. Prjects where the primary ecnmic impact is the cnstructin f the prject. Prjects that fund cmmunity infrastructure that wuld nrmally be funded by gvernment. SIDIT funds will nt be used fr infrastructure prjects that wuld nrmally be funded by gvernment, fr example: rads, water and sewer prjects, recreatinal facilities, health r educatin facilities and scial husing. Last update March 8, 2016 Page 2 f 7

3 Exceptin t Plicy Cmmunities with a ppulatin f under 25,000 SIDIT may cnsider exceptin t plicy fr prjects that are ineligible frm cmmunities with a ppulatin f under 25,000. Such requests will be limited t prjects that demnstrate measurable ecnmic impact. Multi-Year Grant Funding SIDIT may cnsider requests fr multi-year funding fr initiatives r activities that may take lnger than ne year t fully develp, r t achieve r dcument results that are meaningful, r t build sustainability. Applicatins f this nature shuld nt exceed a three-year time frame. Funding will be limited t 3 utstanding multi-year applicatins per fiscal perid. Multiple Requests fr Grant Funding SIDIT may cnsider multiple requests fr distinct prjects and initiatives frm a single applicant rganizatin within ne year, r fr mre than ne prject r initiative being funded, by exceptin nly. Exceptins may be made fr rganizatins that represent a calitin, partnership r cllabrative initiative. Such requests must be cmpelling, strategic in nature and in line with SIDIT pririties. Capital Grants SIDIT des nt generally fund capital prjects. Exceptin t plicy may be made and the Bard may cnsider small-scale capital funding requests frm smaller rganizatins lcated in rural and remte cmmunities. Such requests will be limited t equipment r imprvements that enhance service delivery r cmmunity access fr prjects that demnstrate measurable ecnmic impact. Multi-Municipal Prject Grant Funding SIDIT may cnsider requests fr initiatives and prjects that represent a cllabrative initiative between municipal partners t a maximum amunt f $50,000 by exceptin nly. The intent f this plicy is t ensure equitable and fair distributin f funds t cmmunities in the Suthern Interir. Last update March 8, 2016 Page 3 f 7

4 Applicatin Intakes Funding Terms Funding applicatins are cntinuusly accepted t this prgram. Evidence f supprt by the Reginal Advisry Cmmittee(s) and a decisin by the Bard f Directrs are required fr grant funding. SIDIT prvides grant funding under this prgram up t a maximum f $25,000 r a maximum f 25% f a ttal prject budget (see Key Deliverables - Leveraging Preference belw). Applicants must prvide cnfirmatin f all ther surces f prject funding prir t SIDIT entering int a funding agreement. Applicatins that have cnfirmed ther funding at the time f review by the Bard f Directrs are preferred. In the case f ther uncnfirmed funding surces at the time f applicatin t SIDIT, applicants are required t prvide the date a decisin is expected fr each uncnfirmed funding surce. Qualifying fr Funding While a prject r rganizatin may be eligible fr funding, prjects must prpse t deliver specific ecnmic utcmes t qualify fr funding apprval. Key Deliverables The fllwing key deliverables are reprted n by successful applicants fr a five (5) year perid t demnstrate the direct ecnmic benefits f the prject. New Emplyment (Jb Creatin) Prjects funded under this prgram must prpse direct full-time equivalent jb creatin. Applicatins are assessed fr the ttal full-time equivalency f jbs created fr the fllwing classificatins: Direct permanent full-time jbs. Direct permanent part-time jbs. Direct seasnal jbs. Direct temprary jbs (cnstructin r cnsulting). Increased Revenue Generatin Prject funded under this prgram must prpse a direct increase in revenue generatin. Applicatins are assessed fr prjected revenue generatin ver a five (5) year perid. Preference fr prjects that generate revenues frm utside the Suthern Interir regin (fr instance, freign exprts, internatinal trade, trade with ther prvinces, trade with ther regins in British Clumbia, events and amenities that drive turism frm ther regins). A business plan shuld be attached t funding applicatins that prpse significant revenue increases. Last update March 8, 2016 Page 4 f 7

5 Leveraging Preference fr prjects that partner SIDIT funds with multiple ther funding surces. Preference fr prjects where the applicant rganizatin makes a significant financial investment in the prject. Preference fr prjects that secure significant financial investment frm ther funding surces relative t the amunt requested frm SIDIT. Sustainability Prjects funded under this prgram are assessed fr their psitive impacts n cmmunity and envirnmental sustainability. The fllwing sustainability factrs are assessed fr each funding applicatin: The prject can demnstrate revenue generatin t sustainably perate fr a minimum f five years. Annually t prvide t SIDIT Fiscal Year End Accuntant Prepared Financial Statements The prject cntributes t envirnmental sustainability. The prject will result in a direct increase in taxable prperty values. Strategic Factrs Prjects funded under this prgram are assessed fr their alignment with a number f strategic factrs: The prject invlves a new prduct, technlgy, r patent. Implementatin f the prject will generate revenues t prvide fr sustainability. The prject invlves a P3 partnership. The prject invlves multiple grups and cmmunity cllabratin. The prject includes direct First Natins participatin. There are direct ecnmic benefits t bth lcal gvernments and First Natins as a result f the prject. The prject prvides brad reginal ecnmic impact(s). New prducts/services will be marketed utside the SIDIT regin. New prducts/services will be prvided within the lcal/reginal ecnmy. Applicatin Assessment SIDIT staff undertake cmprehensive due diligence f each funding applicatin received, which may include cntacting relevant agencies and rganizatins as part f the review prcess. All prjects are assessed and scred n the Key Deliverables, Leveraging, Sustainability, and Strategic Factrs identified in the funding applicatin submitted t SIDIT. Last update March 8, 2016 Page 5 f 7

6 Assessment includes, but is nt limited t, review f the fllwing: A business plan that includes a prfitability prjectin. A strategic plan that clearly defines the applicant s strategy, gals and perfrmance targets. Prject milestnes and key deliverables. Supprting market research fr the prject. Qute(s) supprting the prject budget. Previus years financial statements. Cnstating dcuments. Written cnfirmatin f funding frm all ther surces. Management capacity and ability. Real benefits as measured by increased tax base, new jb creatin, incremental revenue generatin and ecnmic diversificatin in additin t nn-financial benefits. Guiding Principals The fllwing principles will guide the Bard in making its evaluatin and shuld be cnsidered by prspective prpnents in determining the eligibility f their prjects fr SIDIT funding. These principles may als be supplemented by ther cnsideratins by the Bard in making its funding decisins: Cnsistent with the Act, Visin and Missin f the Trust. Open and transparent prcesses, decisins and reprting. High standards f financial management and accuntability. Judicius management f public resurces. Sund strategic and peratinal planning. Leveraged investment with maximum Trust participatin rate f 50% (see Key Deliverables leverage preferences). Investments made in the cntext f a lng-term strategy. Grants are nt available t prjects cnsidered t be cmmercial interests. Preference fr initiatives with reginal benefits. Bias fr investments ffering lng-term, sustainable benefits. Diligent prfessinal evaluatin f prpsals feasibility and risk. Real benefits as measured by increased tax base, new jb creatin, incremental revenue generatin and ecnmic diversificatin in additin t nn-financial benefits. Evaluatin and reprting f success against clear perfrmance measures. Last update March 8, 2016 Page 6 f 7

7 Applicatin Prcess 1. Applicant may cntact SIDIT t discuss the prpsed prject scpe and ptential alignment with the Grant Funding prgram. Cntact infrmatin is available nline at the Suthern Interir Develpment Initiative Trust website, 2. The applicant cmpletes a funding applicatin and submits the applicatin t SIDIT. Applicatin frms are available nline at the Suthern Interir Develpment Initiative Trust website, All applicatins shuld be cmpleted electrnically in PDF frmat and ed t the Trust ffice at admin@sidit-bc.ca. Financial tables and spreadsheets shuld be submitted in Micrsft Excel frmat and all supprting infrmatin shuld be submitted electrnically. Signed Authrizatin shuld be ed t admin@sidit-bc.ca r faxed t (250) SIDIT staff cnduct preliminary due diligence f the applicatin, and frward the funding request t the Reginal Advisry Cmmittee(s) fr review. 4. Once the funding applicatin has been reviewed by the Reginal Advisry Cmmittee(s), SIDIT staff finalize due diligence, incrprate the Reginal Advisry Cmmittee(s) cmments, and present the funding request t the Bard f Directrs fr their vte. 5. Fllwing the Bard vte, SIDIT staff will ntify the applicant f the Bard s funding decisin by phne r . A frmal letter is mailed t the applicant. 6. A funding agreement (enabling SIDIT t disburse funding fr the prject) will be prvided t the applicant fr signature nce the applicant has prvided dcumentatin cnfirming f all ther funding surces in writing t SIDIT. 7. Annual reprting fr five (5) years n Key Deliverables specific t the funding prgram is a requirement f applicants with apprved funding agreements. (Fiscal Year End Accuntant Prepared Financial Statements) 8. Disbursements will be subject t satisfactin f all cnditins being met including prf f funding frm ther surces. Fr Grant Prgram Enquiries cntact: Suthern Interir Develpment Initiative Trust th Street, Vernn, BC V1T 8G7 admin@sidit-bc.ca Phne: (250) Fax: (250) Last update March 8, 2016 Page 7 f 7