Town of Olds council passed a motion approving the allocation of the NU-2-U Thrift Store 2010 financial surplus of $26,500 to community projects.
In the past, the NU-2-U surplus supported the programs and services of the Olds Neighborhood Place. However, Town of Olds took over Olds Neighborhood Place and NU-2-U at the beginning of 2010.
“We have been able to maintain the majority of the programs and services without the benefit of the surplus dollars that are generated by the NU-2-U store,” said Barbara Hill, director of community services.
After consultations with the NU-2-U volunteers and the public, town administration has decided to give back the surplus to the community via not-for-profit organizations.
“We are proposing that, through this process, a small group of people collects applications and makes some recommendations back to council on community projects that may not normally get funded or be considered throughout the grant programs,” said Hill.
The grant process will include two funding rounds per year, dependent on the amount of the surplus.
The projects that will be considered for funding should support active lifestyles, health and wellness initiatives for families in the community; not be admissible for FCSS funding where possible; support initiatives that augment major initiatives; support defined projects that can be completed within the calendar year in which the funds are granted; and supplement initiatives of other organizations that are supporting active lifestyles and health and wellness for the community.
“You will notice in the guideline that we are not recommending that we fund bricks and mortar. We do not have a large amount of money,” said Hill.
“We are looking at between $2,000 and $8,000 per application, not $10,000 to $20,000.”
Town administration wants to distribute the 2010 surplus before the end of 2011. Applicants will have until Nov. 10 to submit their grant applications. The grant evaluation committee will review the applications and determine allocations by Nov. 30, after which they will present their recommendation to town council on Dec. 12. Town administration will disburse the funds from Dec. 12 to Dec. 21 and require project accounting by Dec. 31, 2012.
Grant applications are available at the town office and at the NU-2-U thrift store.
