4336 To authorize a Community Improvement Plan Funding Agreement with Otter Valley Foods IncTHE CORPORATION OF THE TOWN OF TILLSONBURG
BY-LAW4336
A BY-LAW to Authorize a Community Improvement Plan Funding Agreement with
Otter Valley Foods Inc.
WHEREAS the Town of Tillsonburg is desirous of entering into a funding agreement
between the Corporation of the Town of Tillsonburg and Otter Valley Foods Inc.;
WHEREAS section 28(7) of the Planning Act, R.S.O. 1190, c. P.13 as amended (the
"Act") authorizes a municipality to make grants or loans in conformity with a community
improvement plan;
AND WHEREAS section 28(11) of the Act provides for the registration of agreements
entered into under section 28(7) of the Act;
AND WHEREAS the Town has passed the community improvement plan by By-law
4084, dated February 13, 2017 (the "CIP");
AND WHEREAS the CIP provides that the Town may provide funding through loans or
grants to eligible applicants; AND WHEREAS the Owner is the registered owner of
property known municipally as 95 Spruce Street, Tillsonburg, Ontario, N4G 5C4 more
particularly described in Schedule "A" (the "Subject Property"); [NTD: TOWN TO
CONFIRM]
AND WHEREAS the Town approved funding to the Owner by resolution of the Council
of the The Corporation of the Town of Tillsonburg at its July 8, 2019 meeting in the
amount of One Hundred Thousand Dollars ($100,000.00) subject to this Agreement;
NOW THEREFORE THE MUNICIPAL COUNCIL OF THE CORPORATION OF THE
TOWN OF TILLSONBURG ENACTS AS FOLLOWS:
1. THAT the agreement attached hereto forms part of this by-law;
2. THAT the Mayor and Clerk be hereby authorized to execute the attached
agreement on behalf of the Corporation of the Town of Tillsonburg;
3. This By-Law shall come into full force and effect on the day of passing.
READ A FIRST AND SECO~D TIME THIS 12th DAY OF AUGUST, 2019.
READ A THIRD FINAL TIME AND PASSED THIS 12th DAY OF AUGUST, 2019.
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DWLiTY CLERK -Lana White