OLDS — The Town od Olds' acquisition of Mountain View Power (MVP) could soon result in about $100,000 going back into the community, chief administrative officer Brent Williams says.
Williams made that announcement in an address to the Olds & District Chamber of Commerce during the chamber’s annual general meeting, held March 8 at the Royal Canadian Legion Branch #105.
“We have some cash sitting in the bank account. The town’s intention is to funnel these dollars out to the community,” he said, adding that the town’s goal is to distribute at least $100,000 into the community annually.
He said distribution of that money “should be fairly imminent.”
Williams indicated the community money would come from MVP revenue, although he warned that revenue does fluctuate.
MVP, a natural gas and electricity company, had previously been under the wing of Olds Institute (OI). The town acquired it when Olds Institute was wound down by the town over the past few years.