The Northern Development Initiatives Trust Sets Ground Rules

Thursday, October 27, 2005 03:58 AM

The Northern Trust , (formerly called the Northern Development Initiatives Trust) has spent the better part of two days this week developing its "investment principles" for projects.

The Trust was established from funds garnered from the sale of BCRail. There are four Regional Advisory Committees which each have a regional investment account of $15 million dollars, there is a $25 million dollar operating endowment, and there is a $50 million dollar "cross regional " account.

The Trust is developing its investment principles which will be applied to requests for funding. Some of the principles considered include examining funding from other sources, the employment opportunities created by the project, and the possible economic benefits the project would bring to a community.

Although the Trust has examined several new requests for funding, it has not approved any new projects.

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Posted on Thursday, October 27, 2005 03:58 AM in News by 250 News

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Comments

Posted by: camoose on October 27 2005 2:49 PM

Can anyone tell me what the cost of running this Northern Developement Fund is. Seems like a lot of people to run it. Correct me if I am wrong, but isn't this the same job that one man (Backhouse) ruan a few years back.

Posted by: Opatcho on October 27 2005 3:53 PM

Same old same old bureaucratic jumble to reward the political friends in the North. Most of the fund will probably go to administration.

Posted by: Mike on October 27 2005 9:11 PM

The liberals hated the patronage position of the northen commissioner developed by the NDP, so they changed the name and gave a bunch of jobs to liberal suck-ups. That's what it's all about--at least my view.

Posted by: Runner46 on October 28 2005 3:01 PM

Nice to see you guys have done your homework. Shooting from the lip as usual. That is what makes this site so predictable. If you checked into NDI you might find that there are only two staff and that the decision makers are from all regions of the North, who were elected by the tax payers.
Ron Davis