Funding Agreements Between the City of Dryden and NWMO

DRYDEN, ON – January 24, 2023 – On January 23, 2023, City of Dryden Council authorized the execution of an NWMO Significant Neighboring Community Funding Agreement for the 2023 Learn More Program and a 2023-2024 Near-term Investment Funding Agreement.

As stated in both agreements, NWMO and the Municipality (City of Dryden) acknowledge that these Funding Agreements do not constitute the Municipality’s community support for either the APM project or the selection of Ignace as a final host community pursuant to NWMO’s Site Selection Process.

The NWMO agreement for the Learn More program has a value of $1,249,995 and consists of funding for the following:

• Full and partial funding of several staff members across the organization
• Legal counsel and professional communication support
• Salary allocation for municipal staff and Council to cover involvement in APM initiatives, including the development of an Impact Benefits Agreement
• Municipal strategic planning and organizational development, community investment marketing, and architectural and engineering services for community capacity projects
• Community Well-being Fund

The Near-term Investment (NTI) funding has a value of $2,000,000 and is to be used for qualifying near-term activities in 2023 and 2024 identified by the City of Dryden based on the following criteria:

• Broad benefit: The community or Municipality has demonstrated how the proposed project will benefit the community or area at large, and not just one group within it.
• Sustainability: The community or Municipality has demonstrated how the proposed project will benefit the long-term sustainability of the community or area.
• Benefits are clear and reasonable: The expected benefits to the community or area have been clearly articulated, and quantified where appropriate, and there is a reasonable expectation they will be delivered should the proposed project proceed.
• Project is achievable: The community or Municipality has demonstrated that the project can be successfully implemented, taking into account: the extent to which the project’s planning and implementation are well-defined and understood, the adequacy of the financial resources and capacity required to implement the project, supported by detailed cost estimates developed by subject matter experts, and the schedule for project completion
• Alternative funding: The community has explored additional sources of funding and partnerships to leverage funding provided by the NWMO.
• Future costs are managed: The advancement of the project will not create an unreasonable future burden on the community, such as commitment to unfunded stages of work, ongoing costs of operation and/or costs of continued financing.

With the execution of these agreements, the City of Dryden continues to move towards its goal of identifying and mitigating impacts to the community as well as building municipal organizational and community capacities.

The funding also ensures that ratepayers in Dryden do not experience any financial burdens relating to the community being a Significant Neighboring Community.

Attachments

Media Release - Execution of NWMO Funding Agreements 2023