Amount for urgent and high priority renewal projects
 51. (1) The amount for the board for the fiscal year for urgent and high priority renewal projects is determined as follows: 1. For the urgent and high priority renewal projects described in subsection (2), determine the portion of the capital asset cost of the projects set out in Column 2 of Table 24 opposite the name of the board that was incurred by the board in each of the 2004-2005, 2005-2006, 2006-2007, 2007-2008, 2008-2009, 2009-2010, 2010-2011, 2011-2012, 2012-2013 and 2013-2014 school board fiscal years for construction or renovation work that began on or after March 18, 2005. 2. Total the portions determined under paragraph 1 for the ten fiscal years. 3. For the urgent and high priority renewal projects described in subsection (3), determine the portion of the capital asset cost of the projects set out in Column 3 of Table 24 opposite the name of the board that was incurred by the board in each of the 2005-2006, 2006-2007, 2007-2008, 2008-2009, 2009-2010, 2010-2011, 2011-2012, 2012-2013 and 2013-2014 school board fiscal years for construction or renovation work that began on or after January 1, 2006. 4. Total the portions determined under paragraph 3 for the nine fiscal years. 5. For the urgent and high priority renewal projects described in subsection (4), determine the portion of the capital asset cost of the projects set out in Column 4 of Table 24 opposite the name of the board that was incurred by the board in each of the 2006-2007, 2007-2008, 2008-2009, 2009-2010, 2010-2011, 2011-2012, 2012-2013 and 2013-2014 school board fiscal years for construction or renovation work that began on or after January 1, 2007. 6. Total the portions determined under paragraph 5 for the eight fiscal years. 7. For the urgent and high priority renewal projects described in subsection (5), determine the portion of the capital asset cost of the projects set out in Column 5 of Table 24 opposite the name of the board that was incurred by the board in each of the 2007-2008, 2008-2009, 2009-2010, 2010-2011, 2011-2012, 2012-2013 and 2013-2014 school board fiscal years for construction or renovation work that began on or after January 1, 2008. 8. Total the portions determined under paragraph 7 for the seven fiscal years. 9. Add the amounts determined under paragraphs 2, 4, 6 and 8. 10. Subtract the amount determined under paragraph 9 from the total of the amounts set out in Columns 2 to 5 of Table 24 opposite the name of the board.  If the difference is negative, the number determined under this paragraph is deemed to be zero. 11. For the urgent and high priority renewal projects described in subsections (2) to (5), determine an amount equal to the capital asset cost of the projects that was incurred by the board in the 2014-2015 school board fiscal year. 12. Take the lesser of the amount determined under paragraph 10 and the amount determined under paragraph 11. (2) For the purposes of paragraph 1 of subsection (1), an urgent and high priority renewal project is a project that, (a) is at a school of the board listed in Appendix B of the document entitled “Good Places to Learn: Stage 1 Funding Allocation”, which is available as described in subsection 3 (7); and (b) has been approved by the Minister, as indicated in the document mentioned in clause (a), on the basis that the project addresses an urgent and high priority renewal need at the school. (3) For the purposes of paragraph 3 of subsection (1), an urgent and high priority renewal project is a project that, (a) is at a school of the board listed in Appendix C of the document entitled “Good Places to Learn: Stage 2 Funding Allocation”, which is available as described in subsection 3 (7); and (b) has been approved by the Minister, as indicated in the document mentioned in clause (a), on the basis that the project addresses an urgent and high priority renewal need at the school. (4) For the purposes of paragraph 5 of subsection (1), an urgent and high priority renewal project is a project that, (a) is at a school of the board listed in Appendix B of the document entitled “Good Places to Learn: Stage 3 Funding Allocation”, which is available as described in subsection 3 (7); and (b) has been approved by the Minister, as indicated in the document mentioned in clause (a), on the basis that the project addresses an urgent and high priority renewal need at the school. (5) For the purposes of paragraph 7 of subsection (1), an urgent and high priority renewal project is a project that, (a) is at a school of the board listed in Appendix B of the document entitled “Good Places to Learn: Stage 4 Funding Allocation”, which is available as described in subsection 3 (7); and (b) has been approved by the Minister, as indicated in the document mentioned in clause (a), on the basis that the project addresses an urgent and high priority renewal need at the school. (6) Subject to subsection (7), it is a condition of the payment of the amount for urgent and high priority renewal projects to a board under this Regulation, (a) that the board borrow money or incur debt for the portion of the amount described in paragraph 11 of subsection (1) that is in respect of permanent improvements; and (b) that the money is borrowed or the debt is incurred in accordance with subsection 247 (1) of the Act. (7) If the portion of the amount determined under paragraph 11 of subsection (1) that is in respect of permanent improvements exceeds the amount determined under paragraph 10 of subsection (1), the condition set out in subsection (6) does not apply to the amount of the excess.