Oxford County Council approved the Future Oxford Legacy Fund partnership agreement. The agreement affirms a funding provision of $340,000 meant to stimulate sustainability projects within the community - approved as part of the County’s 2016 budget.
The fund will make grants and loans available to entrepreneurs, businesses and partnerships in need of seed funding to develop new and sustainable community and regional opportunities that help to meet the targets set out in the sustainability plan.
Applications for funds will be granted in two streams: Access to Capital and Community Development Support. The “Access to Capital” funding stream will provide capital for entrepreneurial activities, with an emphasis on youth opportunities, arts and culture, tourism, high-tech manufacturing, and green technology. Meanwhile, the “Community Development Support” stream will offer non-repayable loans to not-for-profit projects.
To ensure requests for funding and investment meet goals, objectives and targets of the Future Oxford Community Sustainability Plan, the Future Oxford multi-criteria assessment tool will be used to help determine if a project or proposal supports a sustainable future. The tool uses a weighted “sustainability score card” to assess or compare community, economy and environment factors.
The Future Oxford Legacy Fund is a partnership between Oxford County, Future Oxford Partnership and Oxford Small Business Support Centre. Funding will be released to the Oxford Small Business Support Centre to be recirculated to grant and loan recipients.
Individuals or organizations interested in applying for funding through the Future Oxford Legacy Fund should visitFutureOxford.ca beginning in December when the application process opens.