Grants to offset Taxation Losses
Marathon and Terrace Bay
Receive Grants To Offset Taxation Loss
Gravelle Announces Help For Two Thunder Bay-Superior North Municipalities To Address Financial Pressure
Marathon and Terrace Bay are receiving help from the McGuinty Government in response to tax revenue losses.
The province will provide a one-time special assistance grant of over $742,500 to Marathon to help the municipality with the loss in tax revenue as a result of the mill closure. This grant responds to the tax revenue the community did not receive from the mill in 2008 and 2009.
The province will also be providing a one-time special assistance grant of over $773,800 to the Township of Terrace Bay to help offset lowered tax revenue.
Both of these grants will support the municipalities in managing their municipal services.
“I am very pleased that our government’s investment will help ease some of the financial pressure for Marathon and Terrace Bay. We commend the efforts of both municipalities in managing their costs under difficult circumstances.” said Thunder Bay-Superior North MPP Michael Gravelle.
QUICK FACTS
o Ontario’s special assistance grants help municipalities that experience unusual financial difficulties due to situations beyond the control of council.
LEARN MORE
Learn more about the Town of Marathon.
Learn more about the Township of Terrace Bay.