Funds reallocated from King/Elgin reconstruction project

Mount Forest’s King Street West and Elgin Street West reconstruction project will not be going ahead this year, as Wellington North did not receive project-specific funding.

Staff told council on May 23 that its bid for a $794,000 “top up” grant through the Ontario Community Infrastructure Fund (OCIF) was unsuccessful.

That means $500,000 in OCIF formula funding already received by the township has to be reallocated.

In her report to council, treasurer Kimberly Henderson said, “The funds allocated through the capital budget process are insufficient to complete the ... King/Elgin project in 2017.”

She recommended deferring the project for future capital discussions and reallocating the $500,000 OCIF grant to the James Street reconstruction project.

That in turn frees up $100,000 in gas tax money and $400,000 in taxes slated for the James Street project, which Henderson suggested be put into reserves.

Council agreed.