Conestoga needs city money earlier

Success of research hub coming quickly

CAMBRIDGE — Conestoga doesn’t want to wait for its cash.

The Kitchener-based polytechnic institute — promised $500,000 over five years by the City of Cambridge for the college’s new applied research hub to set up in an old knitted clothing factory in Galt — would like the money right away.

The first $100,000 was paid last year. A sped-up $400,000 is the request.

Cambridge city council will consider the request, given a thumbs-up by city staff in a report to general committee, on Tuesday night.

“I’m cautiously considering it,” wrote Coun. Nicholas Ermeta in an email to The Record on Friday. “I do have concerns about changing an agreement already in place and at the same time recognize that sometimes changing circumstances justify revisions.”

So why does the college seek an accelerated city contribution for its applied research hub which, by June, aims to welcome the first 25 students to the renovated Tiger-Brand building in the looming Gaslight District project on Grand Avenue South?

Basically, the college says, because things are going so well.

Plans to drop the college research wing in Gaslight’s Grand Innovations tech incubator, alongside the city’s economic development department, are speeding ahead, fuelled by piles of government and private money.

Last month, the province kicked in $1.3million for applied research programs into

such hot business issues such as cyber security, smart manufacturing and the recycling of electronic waste.

Private donations from business standing to benefit from the applied research added a matching $1.3-million.

“Conestoga is expanding and accelerating research activity at the Grand Innovations site more quickly than originally planned, in part because of the success we’ve had in attracting research funding,” college spokesperson Brenda Cassidy wrote in an email to The Record on Friday.

“As a result, we’ve asked council to consider providing the balance of their funding commitment at this time to support startup and moving costs. Once the applied research hub is up and running, we will be able to attract additional research projects and funding to sustain it.”

The college’s applied research and innovations office will move into Grand Innovations. The college has signed a lease for 13,000 square feet.

First-year renovation costs for the college have also increased with the pace of progress on the research centre.

Initially, they were to be $200,000. They are now pegged at $600,000, according to the city report. The money for the college, sped up or not, is to come out of the city’s Industrial Development Reserve fund.

“The college is moving ahead at a faster rate than originally anticipated,” Ermeta wrote.