BANCROFT (March 6, 2009) - The Government of Canada today announced a $50,000 contribution to assist in advancing plans for the Building Bancroft downtown redevelopment initiative.

The funding was announced today by Daryl Kramp, MP for Prince Edward-Hastings, through the Community Futures program. Community Futures is a not for profit, locally run organization funded through FedNor to deliver a wide variety of services in support of community economic development and small business growth.

“Community Futures committed an original $25,000, then I understand they doubled the contribution because of the community energy and potential of the riverfront development of the downtown core,” said MP Kramp. “I attended the public meeting and could feel the energy, the concern for the future and the optimism in the room. The next phase of the development could be huge when the partners all come to the table.”

“Community Futures is excited about the prospect of this many volunteers coming together and looking positively toward the future of North Hastings,” added Community Futures Chair Bruce Walker.

Bancroft’s Deputy Mayor Larry McTaggart welcomed the contribution. “The Town of Bancroft truly appreciates this tangible show of support from the federal government,” McTaggart said. “This is another clear example of the kind of support and enthusiasm for the project that has been evident throughout the preliminary investigation stage.”

A team of consultants, working with the Town of Bancroft, is exploring proposals to turn Bancroft’s downtown into a vibrant tourist location and create a new centerpiece for the community. The team is currently investigating the feasibility of, and support for, the project, which could include components such as community services, attractions, parkland, commercial amenities, hotel/convention facilities and residential space to enhance Bancroft as a great place both for residents and visitors.

The funding announced today by MP Kramp is part of the $10 million Eastern Ontario Development Program (EODP) introduced by the Government of Canada in 2008. The fund is intended to promote socio economic development in rural Eastern Ontario, contribute to the successful development of business and job opportunities as well as sustainable, self reliant communities and will lead to a competitive and diversified regional economy. The Government has funded the Community Futures Development Corporation (CFDC) of North & Central Hastings and South Algonquin to implement five components of the EODP: Access to Capital, Skills Development, Youth Retention, Local Initiatives and Business Planning.