FORT ST. JOHN, B.C. – BC Hydro announced today that it has appointed the Northern Development Initiative Trust as the financial administrator of its Peace Agricultural Compensation Fund.
The $20-million fund, which was launched earlier this year, supports agricultural priorities in the Peace Region.
Hydro said it set up the fund to recognize the role that agriculture plays in the local economy and the potential effects of the Site C project on agriculture.
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NDIT is an independent corporation that was established in 2005 that has managed more than $80 million in funding for partner organizations, including administration of BC Hydro’s $800,000 Generate Opportunities, or GO Fund.
Hydro said that NDIT 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 about the Peace Agricultural Compensation Fund, visit www.sitecproject.com/AgFund.