The Municipality of Meaford is sharing information about a proposed Pre-Development Agreement with TC Energy that will be considered at the July 27th Council meeting.
Quick Facts
- Council will consider a proposed Pre-Development Agreement related to the Ontario Pumped Storage Project at the July 27th Council meeting.
- The proposed agreement would be in place for three years (2026 – 2028), with an option to extend to a fourth year.
- The proposed timeline aligns with the Impact Assessment Agency of Canada (IAAC) review process and the anticipated timing of a Final Investment Decision (FID) for the Ontario Pumped Storage 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 in discretionary funding directly to the Municipality.
- Funding would support:
- Community Support Payments
- Municipal Capacity Funding
- Skilled Trades Scholarships
- Community Investment Funding
- The proposed agreement is not a Community Benefit Agreement (CBA).
- A future Community Benefit Agreement remains a condition of the Municipality’s conditional willing host status.
- The Municipality does not need to consider its conditional support at this time.
The proposed agreement would provide funding to the Municipality and community groups while the Ontario Pumped Storage 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 proposed 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 proposed agreement does not replace a future Community Benefit Agreement. A Community Benefit Agreement remains a condition of the Municipality’s willing host status. The Municipality does not need to consider its conditional support at this time.
If approved, the Pre-Development Agreement would include 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 proposed 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.
“Council will carefully consider this proposed agreement and what it could mean for our community. In addition to the Municipal Capacity Funding already provided through the province, this agreement would create new funding opportunities for the Municipality and community groups while the project remains under review. Rather than waiting three to four years for the Impact Assessment Agency of Canada process to be completed, this funding would allow us to continue building municipal capacity, supporting local initiatives and ensuring we are well-positioned to address community needs,” said Mayor Ross Kentner.
“The proposed agreement would provide resources that benefit the community today while the project undergoes federal review. Funding delivered through the Municipality could be invested in local priorities such as parks and recreation, community facilities, physician recruitment, infrastructure improvements, economic development initiatives and other projects that support residents and strengthen our community. At the same time, it would help ensure the Municipality has the capacity to participate in the review processes and highlight project impacts to the municipality,” said Shawn Everitt, Chief Administrative Officer.
The Council agenda and staff report are available through the Municipality’s Council Portal. Residents and interested parties are encouraged to review the materials ahead of the July 27th Council meeting.
Frequently Asked Questions
What is the proposed Pre-Development Agreement?
The proposed agreement would provide funding to the Municipality and community while the proposed 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 one of four conditions of the Municipality’s conditional willing host status.
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 one of four conditions of the Municipality’s conditional willing host status.
What is the length of the Pre-Development Agreement?
The proposed agreement would be in place for three years (2026 – 2028), 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 proposed 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. The Department of National Defense (DND) is currently undertaking its own Environmental Assessment of the proposed Ontario Pumped Storage project that will consider the proposed use of the Federally owned lands.
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.
The Municipality is well positioned to consider its conditional willing host support once the IAAC process is completed and the remaining three conditions have been met.
More information about the Ontario Pumped Storage Project, including project updates and frequently asked questions, is available 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