Belleville City Council moved forward on an amendment to the OLG (Casino) Reserve Fund at its meeting on Monday.
The amendment reduces the allocation to the Economic Development portion of the fund from 10% to 5%, removes the disaster/contingency portion, and adds a health care/physician area at 10%.
Funding comes from a quarterly payment from the Ontario Lottery & Gaming Corporation that is then dispersed to different areas of the fund.
Sixty-five per cent of the fund goes toward infrastructure maintenance/rehab related to capital infrastructure projects.
As part of the amendment, it calls for the reserve fund policy of the city to be updated to establish a reserve fund target for the health care component of the Casino Reserve Fund, which would include commitments for primary care recruitment and healthcare donations for the City of Belleville.
A look at the full funding breakdown can be found at the City of Belleville’s website.
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