Sault Ste. Marie City Council will be asked next week to invest a total of $300,000 over the next three years in local post-secondary institutions.
Ward 2 Coun. Lisa Vezeau-Allen and her Ward 4 counterpart Rick Niro are proposing that 20 per cent of the city's economic development fund be set aside for Sault College and Algoma University for the duration of the current council term of office.
That would mean $100,000 in post-secondary contributions in each of 2020, 2021 and 2022.
Monday's City Council will be livestreamed on SooToday starting at 4:30 p.m.
The following is the full text of the resolution to be considered.
Economic Development Fund – Algoma University and Sault College
Mover: Coun. L. Vezeau-Allen
Seconder: Coun. R. Niro
Whereas our community plan, FutureSSM, recognizes that Sault College and Algoma University (our post-secondary institutions) are an integral part of our community’s future and specifically identifies growing our post-secondary institutions as a community goal; and
Whereas our post-secondary institutions are critical to youth retention, labour force development, economic development and, therefore, community development; and
Whereas the city should recognize, encourage and support the efforts being made by our post-secondary institutions to meet community goals, keep our youth at home, develop our labour force and improve our community;
Now therefore in recognition of the foregoing and to support their efforts, City Council will earmark and set aside 20 per cent of the economic development fund for the remainder of this council term (therefore, $100,000 in each of 2020, 2021 and 2022) to support projects at our post-secondary institutions that are consistent with and further the goals of our community plan and encourages both Sault College and Algoma University to work with deputy chief administrative office community development and enterprise services and the FutureSSM team to develop projects or plans, either individually or in conjunction with each other, to apply for and access the earmarked funding.