At its July 27th meeting, Meaford Council authorized the Mayor and Clerk to sign a Pre-Development Agreement with TC Energy related to the proposed Ontario Pumped Storage Project.
Quick Facts
- On July 27th, 2026, Council approved a recommendation authorizing the Mayor and Clerk to sign a Pre-Development Agreement with TC Energy related to the proposed Ontario Pumped Storage Project.
- The agreement will provide funding over three years (2026 – 2028) to the Municipality and community groups while the project remains in the early stages of the Impact Assessment Agency of Canada (IAAC) review process.
- The agreement will be in place for three years (2026 – 2028), with an option to extend for a fourth year.
- The timeline aligns with the IAAC review process and the anticipated timing of a Final Investment Decision (FID) for the project.
- The agreement could provide up to $1.355 million annually to the Municipality and community groups.
- The agreement could provide up to $3.24 million over three years directly to the Municipality.
- Funding would support:
- Community Support Payments
- Municipal Capacity Funding
- Skilled Trades Scholarships
- Community Investment Funding
- The agreement is not a Community Benefit Agreement (CBA).
- A future Community Benefit Agreement remains 1 of 4 conditions of the Municipality’s willing host status.
- The Municipality does not need to consider removing its conditional support for the project at this time.
“Council’s direction to move forward with this Pre-Development Agreement is exciting for both the Municipality and the broader community,” said Mayor Ross Kentner. “This agreement provides access to funding that would not otherwise be available to support local initiatives, build municipal capacity and invest in our community while the project continues through the federal review process. It allows us to realize meaningful benefits today while maintaining our commitment to a future Community Benefit Agreement as a condition of our willing host status.”
The agreement will provide funding to the Municipality and community groups while the project remains in the early stages of the Impact Assessment Agency of Canada (IAAC) process. The agreement is intended to support municipal capacity and community-focused initiatives as the Municipality continues to consider local needs and understand project impacts. The Pre-Development Agreement term is three years (2026 – 2028), with an option to extend for a fourth year, aligning with the anticipated timeline for the IAAC review process and a Final Investment Decision (FID) on the project.
The Pre-Development Agreement does not replace a future Community Benefit Agreement. A Community Benefit Agreement remains 1 of 4 conditions of the Municipality’s conditional willing host status, and the Municipality does not need to consider removing its “Conditional” support at this time.
The agreement includes four funding streams: a Community Support Payment of $1 million annually for three years funded by TC Energy; Municipal Capacity Funding up to $250,000 annually through provincial pre-development funding; scholarships of $25,000 annually for three years funded by TC Energy; and a Community Investment Fund matching up to $80,000 annually for three years funded by TC Energy.
Together, the funding streams could provide up to $1.355 million annually to the Municipality and community groups, and up to $3.24 million over the next three years directly to the Municipality.
“With Council’s direction, staff will proceed with finalizing the agreement with TC Energy,” said CAO Shawn Everitt. “Specific priorities and uses for the funding will be determined through future Council budget deliberations, strategic planning discussions and approved municipal processes. This approach ensures the funding is allocated transparently and in alignment with Council’s priorities and community needs.”
Frequently Asked Questions
What is the proposed Pre-Development Agreement?
The proposed agreement would provide funding to the Municipality and community groups while the pumped storage project remains in the early stages of the Impact Assessment Agency of Canada process. It would support municipal capacity, community investment, scholarships and community support payments.
What is the agreement not?
The agreement is not a Community Benefit Agreement and does not replace the requirement for a future Community Benefit Agreement, which remains a condition of the Municipality’s willing host status.
How was this decision made?
Council considered a staff report at its July 27, 2026 meeting and approved the recommendation to enter into the Pre-Development Agreement with TC Energy.
The recommendation followed several months of discussions and negotiations related to a potential Community Benefit Agreement. Through those discussions, it was determined that it is too early in the project review process to establish a Community Benefit Agreement. However, both parties identified an opportunity to enter into a Pre-Development Agreement that provides funding and support to the Municipality and community groups during the current stage of project review.
When will the Municipality revisit a Community Benefit Agreement?
The Municipality will revisit a Community Benefit Agreement at a future stage of the project. A Community Benefit Agreement remains a condition of the Municipality’s willing host status.
What is the length of the Pre-Development Agreement?
The proposed agreement would be in place for three years, with an option to extend for a fourth year. The term is intended to align with the IAAC review process and the anticipated timing of a Final Investment Decision (FID) for the Ontario Pumped Storage Project.
Does this agreement mean the project has been approved?
No. The Ontario Pumped Storage Project remains subject to regulatory review and approval processes with the Impact Assessment Agency of Canada (IAAC). The Pre-Development Agreement provides funding and support during the review period and does not constitute project approval.
Does the Municipality need to remove its conditional support at this time?
No. The Municipality does not need to consider the removal of its “Conditional” support at this time.
Residents and interested parties can learn more about the agreement, Council’s decision and the Ontario Pumped Storage Project on the Municipality’s Pumped Storage Project webpage.
Shawn Everitt
Chief Administrative Officer (CAO)
21 Trowbridge Street West, Meaford, Ontario, Canada, N4L 1A1
Media Contact
Holly Moroney
Manager, Communications & Customer Service
21 Trowbridge Street West, Meaford, Ontario, Canada, N4L 1A1