(TC Energy image)
Meaford Council is receiving report today detailing the benefits of the proposed pumped storage project on the 4th Canadian Division Training Centre.
The report from CAO Rob Armstrong details how the benefits contained should be considered as preliminary only, and actual figures will be available when the proposal gets closer to approval.
Meaford staff met with TC Energy to talk potential community benefits that could come from the proposal.
Among them is the potential for TC Energy to work with a builder to develop or redevelop land that could provide interim housing for workers, and then become purpose-built rental units post-construction.
TC Energy could also partner with Grey County or another entity to develop additional affordable housing in the municipality.
The Municipality of Meaford could also see an annual tax equity payment.
TC Energy identified it would be exempt from paying taxes or any payment in lieu of taxes under the Dominion Water Power Act, they would be willing to make a yearly tax equity to the municipality of $1.5-million.
The report says TC Energy is currently looking for approval from the federal and provincial governments to establish a pumped storage facility.
This follows a presented report to council in 2020, which detailed several matters the municipality wishes to see addressed as part of the approval process.
TC Energy indicated the next step in its approval process was to obtain approval from the Independent Electrical System Operator to receive the electricity which could be produced from the proposed facility, with approval being considered next year.
The report says TC Energy would also be responsible for any related municipal infrastructure, should it be identified in any reports. This could include roads and firefighting equipment, and TC Energy would be responsible for covering the full costs of the improvements. The full scope of these requirements will not be known until studies are completed and reviewed. TC Energy will be required to complete a comprehensive transportation plan, and the report says they are committed to working with Meaford to develop a traffic management and post construction remediation plan.
The report says council received a presentation recently regarding the spin-off benefits a number of municipalities have received as a result of Bruce Power, but to this date, Meaford has not felt any direct benefit from the energy company. TC Energy, however, indicated early on they would be building on the clean energy frontier and could benefit the municipality. This could include the utilization of designated lands east of Grey Road 7 and next to Muir Street. TC Energy also intends to look at the existing local supply chain for businesses who could help in the construction of the facility.
Meaford staff have approached TC Energy with ideas for them to contribute to various local projects, and while the company has not indicated the scope of contributions they would make to any potential project, they are committed to making improvements to the community. The report says TC Energy is committed to working with Meaford and other government partners to consider a financial commitment to assist in the building of a potential long-term operation of needed community infrastructure services.
In addition, TC Energy has identified its desire to help other non-municipal services, including contributions to health care, education, regional facilities, and residents, which would benefit from the proposal of delivering fibre services and natural gas.
“This report should only be considered as a preliminary overview of the potential community benefits that could be realized. It has been suggested by TC Energy that the wish to enter into a community benefits agreement with the municipality and further have noted that the suggested benefits are contingent on a resolution of support for the project from the municipality of Meaford on a timely basis, and successful construction and operation of the facility in 2029/2030,” says Armstrong’s report.