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October 28, 2017 4:05 am

New Fair Share Deal for Peace Region Communities

Friday, May 29, 2015 @ 2:23 PM

Dawson Creek, B.C.-  Premier Christy Clark  has  announced the Province has reached a new  fair share agreement with communities in the Peace RegionThe  new Peace River Agreement,  is valued at over $1.1 billion over the next 20 years and was signed with the consent of all local governments.

The new agreement provides  annual payments to  local governments, recognizing their lack of access to  the industrial tax base in  rural or unincorporated areas.
Key features of the new agreement will include:

* Annual payments that start at a base of $50 million in 2016, and after 2020, will increase at an agreed annual rate for growth, through to at least 2035;
* Opportunities to re-open the annual rate of growth of the payment in both 2023 and 2031, as well as renegotiate a new base and annual rate of growth to take effect after 2035;
* New eligibility, reporting and approval requirements to improve accountability to taxpayers; and

* New provisions to support provincial-regional relationship-building through a new Partnership Committee.

Signatories will receive an additional $3 million in 2015 as a special one-time payment for approval of the agreement, building on the $46 million already paid on April 30, 2015, under the previous agreement. One million dollars will also be provided to the Peace River Regional District this year to support the work of the Partnership Committee over the coming years.


Does this have to do with the Site C dam project?

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