North Shore to share surplus funds.Eleven communities in the North Shore region are eligible for funding under a special $14.6-million economic development fund. The Patten Post Diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. Fund is the unspent balance of a $16-million commitment by the former Ontario Hydro Ontario Hydro was the official name from 1974 of the Hydro-Electric Power Commission of Ontario which was established in 1906 by the provincial Power Commission Act to build transmission lines to supply municipal utilities with electricity generated by private companies to explore development of a hydroelectric project in the early 1990s. The money was attached to a larger $250-million development package provided by Hydro to purchase uranium uranium (y  rā`nēəm), radioactive metallic chemical element; symbol U; at. no. 92; at. wt. 238.0289; m.p. 1,132°C;; b.p. 3,818°C;; sp. gr. 19. from sources outside Elliot Lake Elliot Lake, city (1991 pop. 14,089), S central Ont., Canada, W of Sudbury. The focus of a 1950s uranium-mining boom, it is now a retirement home center. . In the funding formula, Elliot Lake will receive the largest share at $3.5 million with Blind River, Shedden, North Shore and Serpent River First Nation each receiving $1.17 million.
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