Community Economic Development and Diversification in B.C. - Funding overview
Open
We are accepting applications on an ongoing basis.
1. Funding overview
Funding:
- Varies by project
- Typically up to 50% of eligible project costs; in exceptional circumstances, PacifiCan may fund a higher proportion of a project’s costs
Repayment terms:
- Non-repayable
Funding source:
- At least 50% of project funding should come from private organizations or other public organizations, including municipal and provincial governments; with a strong rationale, PacifiCan could consider more than 50% of funding coming from government sources
Generally, PacifiCan provides funding by reimbursing a defined proportion of eligible costs after they are incurred by recipients.
Eligible costs
Funding can cover essential project costs including:
- wages and benefits
- equipment and supplies
- contractor and expert services such as legal, administration, accounting and consulting services
- rents, leases and leasehold improvements
- information management, information technology and proprietary processes
- transportation
- capital improvement to shared-use infrastructure
- other costs agreed to by PacifiCan
All costs must be reasonable, incremental and essential to the project.
Ineligible costs
Funding does not cover unreasonable, non-incremental or unrelated costs including:
- land and buildings
- entertainment and hospitality expenses
- allowance for interest on debts
- refinancing of existing debts
- losses on investments
- amortization or depreciation of assets
- taxes
- lobbying and advocacy activities
- commissions to secure funding
- membership fees and donations
- costs incurred before the Project Funding Start Date
Costs incurred before a PacifiCan decision is made and a funding agreement is signed are incurred at the sole risk of the applicant.
