By Cecilia Nasmith
Cobourg is hoping to take advantage of a unique opportunity in applying for two projects to the Canada Infrastructure Program, Community, Culture and Recreation Funding Stream.
The two projects are $1.65-million in development costs for Victoria Square (with the municipal portion being $0.45-million) and repairs and enhancements to Cobourg's harbour. This work includes the east pier, and the municipal portion of the $10.6-million project would be about $2.8-million.
At this week's committee-of-the-whole meeting of council, director of community services Dean Hustwick spotlighted why it is a special opportunity. The work would not have to be completed until 2027 or 2028, Hustwick said, and the Federal portion of the grant is 40% rather than the traditional one-third (which, in this case, is the provincial portion).
On the other hand, he noted, competition for the limited funds is fierce.
“We will have to pay these expenses whether we get the grand or not,” he warned.
Work on the harbour will not wait, he noted.
“The north wall is probably the most deteriorated. It could be required perhaps to shut down the parking lot. And $2-million is estimated just for the north wall.
“There are a lot of very serious commitments, so certainly we hope to get the grant.
“Victoria Square is certainly more of an optional project, but it's one we have been working on for 20 years. This is a significant opportunity to completely transform the downtown for a generation.
“If we are successful, I think we will be very fortunate.”
