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Teresa Mullen
Executive Director

Partners in Economic Development

  Town of Canmore
  Tourism Canmore
  The Biosphere Institute
  BOWDA
  Mountain Arts Foundation
  Canmore Community Housing Corporation
  MD of Bighorn # 8
  Chamber of Commerce

Associate Membership
Canmore Business Registry

• Diversify the local economy.
• Attract business and investment to the area.
• Enhance opportunity for all local businesses to increase their competitiveness.
• Increase employment opportunities and retain jobs
• Increase the current impact of tourism on the local economy (lengthening stays, enhancing existing markets, developing new markets, increasing visitor expenditures.)

The Canmore Economic Development Strategy will guide all funding decisions.

REVIEW PROCESS:

Any use of the Fund must be discussed and ratified by CEDA Board of Directors.

The funding programs are first presented or reviewed by the CEDA staff and then forwarded to the CEDA EXECUTIVE for review. The CEDA Executive will make grant recommendations to the CEDA Board of Directors at its regular monthly meetings.

To be considered by the committee, program outlines must be prepared and/or submitted two weeks before the date of the Executive’s next meeting. It is recommended that applicants discuss the proposal with the CEDA Staff well in advance of the two-week deadline.

PROPOSALS FOR CONSIDERATION MUST INCLUDE:

Organization Accountable for the Project:
CEDA will be looking for community longevity, sustainability, and collaboration with existing organizations.

• Organization responsible for the project.

Project Details:
CEDA will be considering how it fits with the organization’s mandate and long-term goals. CEDA will also be reviewing projects for the fit with the overall economic development strategies outlined for this area.

• Project description in detail, including its target audience, and expected outcomes.

Community Economic Development Benefits:
The program must fit into one or more areas of community benefit as indicated below. Details must include the measurable outcomes expected from this endeavour. Where possible, quantify these benefits with numbers and statistics.

Economic Development:
Details on how this program will develop economic opportunities for Canmore and area, and/or how will this enhance or diversify the economy. What kinds of business or investment will this program encourage or attract? CEDA will be looking for long-term sustainability of the program and/or its benefits. CEDA will encourage diversification efforts.

Employment Development:
Details on how the program will develop employment opportunities for Canmore and area residents outside of the applicant organization.

Tourism Development:
Details on how this program will enhance or increase the current visitor impact on the Canmore and area economy. (Increase market-share, develop a new market, lengthen the visitor’s stay or increase visitor expenditures locally.)

Community Partners:
CEDA will be looking for collaborative efforts; projects that evidence broad community support, endorsed by recognized community leaders and participants.

• Who is partnering with the project and what type of assistance or expertise do they provide?
• What kind of support does this project have from the community, from local elected officials, institutional partners, or from the business community?
   

Private sector, for-profit based projects will only be considered under the terms of a Public/Private Partnership provided they meet the following conditions:

• Benefits and participation must be available to the entire community – the program cannot restrict access within the community.
• Projects should have the endorsement of a minimum of one recognized community organization or club. Lone individuals or corporations are not eligible.
• The funding provides assistance to seed the project- Long-term operations funding is not eligible for CEDA funding.
• The community or endorsing organization maintains full access and ownership of the project.
• There must be an open tender process involved in choosing the private sector operator.

Clear service agreements must be provided before any funds are disbursed.

Budget For The Project:
CEDA funding is designed to “seed” projects – generally 3 years maximum.  They will be looking for financial self-sustainability and leverage capacity.

• Provide a plan that demonstrates movement to financial self-sustainability. 
• List the sources of funds and the uses of funds.
• Describe the status of the funding commitment.
  

• List the key personnel involved in this project. (What staff resources do you have? Who is managing the project?)  

Project Timetable and Schedule:

• Describe the timetable and schedule for the project.

Fund Disbursement:
CEDA will be looking for authentic mechanisms and supporting documentation proving the need for specific amounts to be disbursed.

• Outline the timetable and disbursement requirements for the funding including a description of the mechanism (back-up materials) to validate any disbursements. (Back-up documentation is required and must be included with any disbursement request)

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