Guiding Principles
COMMUNITY ECONOMIC DEVELOPMENT
The NKDF will invest in community economic development projects and/or programs that are supported by the community, as long as they do not subsidize private business.
JOB CREATION & ENHANCEMENT
Creating new jobs and enhancing existing jobs are priorities of the NKDF.
SUSTAINABLE ENHANCEMENT
A priority of the Fund will be to support long term employment - both full time and seasonal.
COMMUNITY INTERRELATIONSHIPS
The Fund recognizes the value of interrelationships between communities. Consideration will be given to proposals from outside the Nechako Region and Kitamaat Village if they demonstrate a benefit to those areas.
CLEAR AND ACCESSIBLE
The Fund will have policies and programs that are accessible with clearly defined evaluation criteria.
FIRST NATIONS’ PARTICIPATION
First Nations’ participation in the Fund will not prejudice the First Nation land claim process.
LOCAL CONTROL
The majority of members of the NKDF Board will reside in the investment area. The Board will determine the ongoing management of the Fund consistent with provincial government policy.
BENEFITTING FUND
The Fund is intended to create benefits through sustainable community economic development. It is not intended to be compensation for those who believe themselves to have been negatively affected by the Kitimat-Kemano Project, the creation of the Nechako Reservoir or the cancellation of the Kemano Completion Project.
COOPERATIVE VENTURES
The Fund can be utilized in cooperative ventures along with other funding sources.
NO DUPLICATION
The Fund will not duplicate but may augment existing economic development programs.
WORKING FUND
$5 million from the original $15 million Fund is in a working fund to invest in current grant programs.
LEGACY FUND
$10 million from the original $15 million Fund is in a legacy fund, which will be invested to reach $15 million. * Income from this $15 million will finance activities into the future.
* Fund investments are managed by the British Columbia Investment Management Corporation. Monies of the Northern Development Fund – to be used in support of the programs of the NKDF Society – are in investment vehicles that are generally conservative but that also provide some opportunities for growth.
