ORMC MCC Business Plan ORMC_MCC_Business_Plan_032319 - Page 5

GOVERNANCE Municipally Controlled Corporation The ORMC will be established as a Municipally Controlled Corporation (MCC) under the Municipal Government Act (MGA). An MCC is a For-Profit Corporation established to provide services and benefits to residents of the municipality, where a municipality holds the majority control of appointing directors. As a separate legal entity, an MCC can pursue its goals from a perspective not always available to a municipality, including profit considerations. The MGA requires that the profits of an MCC are either reinvested in the MCC or used to the benefit of the residents of the municipality(ies) which control it. Shareholders The ORMC MCC will be established based on the Municipal Pre-Incorporation Agreement used by the partner municipalities to assume control of the medical clinic in 2017. A decision made to establish a business case for an Onoway Medical Clinic to successfully operate without subsidy from regional municipalities. The Shareholdings of the partnership will continue as: Lac Ste. Anne Count 82.5% Town of Onoway 11.3% Summer Village of Ross Haven 1.5% Summer Village of West Cove Summer Village of Silver Sands 1.7% Summer Village of Val Quentin 1.7% 1.3% Board structure The ORMC MCC Board will consist of three (3) Directors. The Directors will consist of one appointed from Lac Ste. Anne County, one from the Town of Onoway and one representing the Summer Villages of Ross Haven, West Cove, Silver Sands and Val Quentin. The Director appointed by Lac Ste. Anne County will serve as Board Chair. The Lac Ste. Anne County Chief Administrative Officer, or another officer of Lac Ste. Anne County delegated the responsibility, will fill the role of Executive Director. The Executive Director will not be voting board member, but function as advisor to the Board and assist in the work of the ORMC MCC. Voting Each board member will have shareholder voting proportionate to the shareholdings of the member municipality(ies) they represent. Dissolution Although there is currently no expectation that the ORMC MCC will need to consider dissolution or conclude their operations, the corporate foundation will outline the provisions for that possibility. If the ORMC ever does face dissolution or conclusion of its operations, the assets and any ongoing revenue streams would be returned to municipal partners in proportion to their shareholdings in the corporation. Municipally Controlled Corporation Business Plan .5