Stimulus Fund

Community Funding

Contents

The TDC Stimulus Fund is a one-off fund of $2M (GST exclusive) for the 2020/2021 financial year.

Objectives

To support initiatives that enhance and boost the economic recovery in response to COVID-19 and contribute to community wellbeing and stimulating economic activity. It shall:

  • Provide financial support to initiatives, projects and events in the wake of the COVID-19 crisis
  • Assist the Timaru District in recovery from the COVID-19 crisis
  • Provide economic stimulus to the Timaru District
  • Enhance the community wellbeing (social, economic, environmental, cultural) of Timaru District residents and communities

Criteria

Demonstration by applicants for initiatives, projects or events that they:

  • Provide a public good in line with the  economic, social, cultural or environmental wellbeing of the Timaru District
  • Deliver tangible stimulus outcomes that benefit the Timaru District in the short term, with consideration for future and ongoing benefits to the District.
  • Seek to use innovation and creativity to support recovery, revitalisation and job protection or creation
  • Contribute to sustainable economic outcomes
  • Align to the Timaru District strategic direction

Considerations that exclude funding:

  • Projects principally advancing commercial or personal gain
  • For projects solely undertaking investigations such as scoping, research or feasibility that are unlikely to provide future stimulus.
  • Private businesses
  • Government agencies or sub-agencies

Applications can only apply for a maximum of 25% of the project cost. This requirement may be relaxed or waived in circumstances where the proposal is deemed to be sufficiently strong and the opportunities for additional funding are constrained.

Applicants must be Timaru District residents, ratepayers or organisations or have a physical presence in Timaru District.

Timeline

Funding Applications Open Wednesday 22nd July 2020
Funding Applications Close Friday 14th August 2020
Funding Applications Decisions Made Tuesday 1st September 2020

Applications

Applications should:

  • Be completed on the Stimulus Fund Application Form
  • Show how it will meet the Stimulus Fund criteria and deliver tangible stimulus outcomes that benefit the Timaru District in the short term, with consideration for future and ongoing benefits to the District
  • Include a project plan covering timeframes and milestones
  • Include other relevant information (e.g. parties involved, robust budgets)
  • Show how the remainder of funding is intended to be raised and/or set out what funding has been raised to date
  • Show clear evidence of planning and foundational work to ensure progress

Meeting or aligning to the Criteria does not mean an application will be successful. This will be determined by the strength and merit of the application upon evaluation. For clarity, applications do not need to meet all of the Criteria. If an application is unsuccessful, it may resubmit to future funding rounds should these occur and if further information becomes available.

Accountability Requirements

Applicants will be bound by a funding agreement to be developed once the project is approved. This will be held in accordance with the information provided in section 2.6. Council, at its discretion, may specify certain conditions when approving an application. Applicants may be required to agree in writing to these conditions and to repay any part of the whole of any grant if these conditions are not met.

Submitting your application

Please complete all the sections fully and accurately. Brackets and italics indicate guides. All completed forms must be emailed to stimulusfund@timdc.govt.nz or dropped into the Timaru District Council main reception.

Please submit this application by Friday 14th August 2020.

Next Steps

Applications will be assessed for eligibility, as well as how well they will deliver on the aims of the Stimulus Fund. One of our team will be in contact regarding your application once decisions are made.

Payments

Funds to be drawn down and spent within 12 months of award. Funding provision will be made by way of a pledge with drawdowns consistent with the “application project budget and program”. If pledge is not called upon in a manner generally consistent with “application project budget and funding agreement” then that pledge shall be voided and funds reallocated by Council.

Last updated: 23 Jul 2020