CCBAC Guidance Statement for Funding: 

As part of its enabling function, CCBAC will provide financial assistance to those initiatives that are consistent with CCBAC’s 2016-17 priority areas for economic development in the Cariboo Chilcotin Region. Financial assistance will take the form of seed funding and/or funds for feasibility studies, marketing and communications initiatives and economic development studies to support economic development or diversification initiatives.

After carefully reviewing the eligibility and selection criteria, you can click here to access CCBAC’s Self-Evaluation Checklist.

CCBAC Basic Eligibility Criteria for Funding:

  • The applicant must be a non-profit or charitable society, local government or first nation government (CCBAC does not provide funding for companies or for-profit ventures);
  • The applicant must provide monetary or in-kind funds toward the project;
  • The applicant must have 50% of total required funds secured from other sources (CCBAC will not fund more than 50% of a project);
  • The applicant is not requesting funds for capital projects [building infrastructure and purchasing items];
  • CCBAC will only fund feasibility studies that are building an operational budget but will not fund ongoing operations. 

CCBAC Selection Criteria for Funding:

CCBAC has defined the following criteria for guiding its selection of future CCBAC-supported projects and activities.

  • Strength of Partnership Participation: This includes regional partners and stakeholders involved (First Nations, local governments, private sector and others) and the commitment they have made to the initiative or project (as measured by effort and resources). The leveraging of resources for specific projects will also be a key consideration.
  • Project Sustainability: CCBAC will support projects that clearly demonstrate a full implementation plan and that can highlight how projects will support regional economic growth and diversification, social development or environmental sustainability in the Cariboo-Chilcotin.
  • Expert Involvement: The proponent must demonstrate expertise or involve someone with expertise in the proposed project.  
  • Reach of Project: Priority will be given to projects and initiatives that address issues of widespread concern or that create solutions or tools that can be widely used throughout the Cariboo-Chilcotin and/or its sub-regions.
  • Timing of Project: Projects must clearly define the timelines in which they will initiate and complete their tasks and demonstrate their successes and value. Ideally, projects will be completed within 24 months of initiation.  Ongoing ventures will be self-sustaining within 24 months of initiation, or in the case of product-oriented projects, deliverables will be demonstrated to the Board within the same time frame.

Process for receiving and reviewing applications:

a)    A proponent visits the CCBAC website, reads the eligibility and selection criteria and fills in the Self-Evaluation Checklist

b)    If the proponent determines they potentially qualify for funds, they send a letter of intent to the CCBAC staff who forward the letter to CCBAC Executive for review and pre-work.

c)     The CCBAC Executive will review the letter and decide whether: a) an application will be requested; b) more information is needed prior to a potential application request; c) the proponent should be directed to a more appropriate funding source; d) the letter is not accepted.   

d)    If a full application for funding is requested, the CCBAC staff and Executive will work with the proponent to present a completed project proposal to the Board in a timely manner (if feasible, as an agenda item at the next scheduled CCBAC Board meeting).  The completed project proposal should answer and/or anticipate Board questions based on the Board’s discussion of the proponents letter of intent, previous project history, and projects of a similar nature.

e)    Upon receiving a completed grant application, staff will then send the draft application to the Board so they can ask questions and help refine the application for final review.  This final decision will take place at the next upcoming Board meeting or, in extenuating circumstances to be determined by the Board, through an eVote or teleconference.

Process for CCBAC releasing funds to a proponent:

a)    Upon CCBAC Board approval of a final project proposal, CCBAC staff will work with the proponent to draft a contract in accordance with the approved proposal and present the draft contract to the CCBAC Executive for signing.  The contract will include clear project deliverables, the reporting process, a timeline and a payment schedule.

b)    There are 2 alternate ways to release funds based on the need of the proponent:

  • b.1) If the funds are needed before the project completion date, the proponent will provide a letter and a cash flow that demonstrates the need for a 50-70% advance of the total approved funding amount from CCBAC. 
  • b.2) If an advance payment is not requested, to receive funds the proponent will submit an Milestone Report including a financial ledger of actual amount spent on the project to date with appropriate receipts and invoices.  Once approved by CCBAC, a portion of funds will be released based on the percentage of approved CCBAC funding (i.e. if CCBAC provided 30% of the total project cost, then 30% of the money spend to date will be released).      

c)     The proponent will be required to submit a final report with appropriate photos and content for the CCBAC website (depending on the nature of the project the number of interim reports may vary).

d)    CCBAC will require a minimum of 10% of the total project cost as a holdback until completion of the project and submission and acceptance of the final report including all relevant financial documentation.  Upon the CCBAC Board approval of the final report, the final 10% holdback will be released.

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