NKDF Society Back in Business After Core Review
MAR 27, 2003

The Nechako-Kitamaat Development Fund Society is pleased to announce that it is back in the business of investing in community economic development projects after a nine-month government-led review of its operations.

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Earlier this month, during the first full board meeting since May 2002, the directors started carrying out the recommendations made by the B.C. Ministry of Competition, Science and Enterprise.

Highlights from the core review are as follows:

• A Ministry staff appointment to the board creates a more direct link to the Minister, Rick Thorpe.
• The investment area will expand to include all communities between Burns Lake and Vanderhoof.
• There will be greater society involvement in project development.
• All directors whose terms had expired during the review are re-appointed for one year and any new vacancies will be publicly advertised.
• The grants program cannot be used to subsidize private business.
• The business loans program is cancelled.
• The ratio of administration costs to total projects funded will be reduced.
• All the NKDF’s existing funds must be spent before any further government-held funds will be released.

Society activities and programs are supported through the Northern Development Fund, jointly established in 1997 by Alcan and the government of British Columbia with contributions of  $7.5 million each to support the economy of the area affected by Alcan’s Kitimat-Kemano hydro-electric project. The investment area for the NKDF is the Nechako Region and the lands traditionally used by the Haisla people. This includes all communities and rural settlements between Vanderhoof and Burns Lake (including Southside), as well as Kitamaat Village. Eligible applicants are legally incorporated non-profit organizations. NKDF investments may be made in Northwestern BC outside the normal investment area, providing there is direct economic and/or job creation benefit to the Nechako-Kitamaat Region.