More Fair Share Money for PRRD

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The Peace River Regional District is getting another $31 million in Fair Share Funding from the province.

The announcement came today from Energy Minister, Blair Lekstrom, the Peace River South MLA.

According to Victoria it raises to $152 million the amount provided to the region, since the new FairShare Memorandum of Understanding was signed, in 2005.

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Mr. Lekstrom adds that total is $80 million dollars more than would have been delivered under the previous FairShare Agreement.

The funds act as “grants-in-lieu,” as Peace area communties cannot access what would ordinarily be their municipal industrial property taxes.

The are divided among local governments in the regional district through a forumla determined by the region.

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