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FORT ST. JOHN: BC Hydro has appointed Northern Development Initiative Trust as the financial administrator of its Peace Agricultural Compensation Fund.
The $20-million fund, launched earlier this year, supports agricultural priorities, such as production and economic activity, in the Peace Region. The fund reflects BC Hydro's recognition of the role agriculture plays in the Peace River region and the potential effects of the Site C project on agriculture.
The Northern Development Initiative Trust was selected through a competitive procurement process. It is an independent corporation that was established in 2005 that has managed more than $80 million in funding for partner organizations, including administration of the $800,000 BC Hydro Generate Opportunities (GO) Fund.
As fund administrator, Northern Development Initiative Trust will manage the fund and act as a secretariat to the regional decision-making board, which is responsible for overseeing the management and disbursement of the fund.
Northern Development Initiative Trust and the board will work together to develop a strategic five-year plan, fund application packages and evaluation criteria, as well as a financial management plan.
For more information, please visit www.sitecproject.com/AgFund.
BC Hydro Media Relations
604 928 6468
Northern Development Initiative Trust
Director of Marketing and Communications
T: 250 561 2525
M: 250 613 9586