Waterloo mayor wants new ‘fiscal funding formula’ as city is denied more grants
Posted Oct 1, 2024 04:20:47 PM.
Last Updated Oct 1, 2024 04:20:54 PM.
Over the last year and a half, the City of Waterloo has seen at least $60 million in grant applications from both federal and provincial governments be thrown out.
The municipality applied for a $25 million fund from the federal government that would have gone towards retrofitting RIM Park for climate change but that was denied. It also applied for a $35 million housing enabling water program from the province that would have helped build a pumping station for a new suburb to service about 900 homes in Waterloo — this was also denied.
Waterloo’s Mayor, Dorothy McCabe, wants to see both upper levels of government come to the table to create stable, reliable funding for municipalities like the region, so they don’t have to compete constantly.
“We have been saying to the province for years, we need to redesign, we need to talk about a new fiscal funding program because property tax system was created 150-years ago but that’s the process which we are left with to build 21st century facilities,” said McCabe. “We need a new fiscal funding formula.”
She added that the region isn’t alone in not getting the grants it needs on time. Often, more cities are applying than there is money to give out. Over 200 municipalities applied for the Housing Enabling Water Fund but only 64 were successful. Waterloo is applying for the second round of funding for that program.
“We don’t want to go to them with one or two ideas which may give them the opportunity to flat out say no to this. We want to go to them and actually have a collaborative discussion so we can figure out together a better program and a better process,” said McCabe.
“To go into politics, you have to be an optimist. We’ll continue to talk to the federal and provincial government and our representatives to do our best to get what Waterloo needs.”
She mentioned that programs with predictability, where cities like Waterloo will know when funding is typically delivered are much better programs because they allow the city to plan strategically.
