Revelstoke city council is being asked to recommend $50,000 from the economic opportunity fund (EOF) be allocated to the Farwell Splash Park Society. There is also an ask of $100,000 from the Revelstoke Community Forest Corporation Legacy Fund. The funds would be used to assist with the development of a Farwell Splash Park.
The Farwell Splash Park society has been actively seeking funding opportunities to support development of the splash park. A staff report notes the group will be receiving $50,000 from the Revelstoke Credit Union and $1,000 from the Community Foundation. City staff are seeking council’s approval to recommend to the Columbia Shuswap Regional District board that $50,000 be allocated from the EOF for the project.
Economic Opportunity Funds were created to provide funding assistance for projects that stimulate economic development. The funds are not part of the city budget.
“Developing a splash park in Revelstoke stands to increase the community’s ability to attract families with children as well as encourage increased tourism of families with children,” Nicole Fricot, director of Community Economic Development wrote in a report to council.
A report from Dawn Low, director of corporate administration notes that the request for $100,000 in funding from the RFCF legacy funding is supported by the RCFC as it meets the principles and criteria required by the corporation.
According to the report potential RCFC legacy projects must meet the following criteria:
– Be a benefit to the residents of Revelstoke.
– Leverage other grant funding or other money sources where applicable.
– Be a new capital project and not to be used to offset general revenue.
– Not create excessive ongoing operation and maintenance costs (e.g. be a burden to future tax payers).
– Have not received other funding directly from the city.