The province is handing over more infrastructure funding to the Peace River Regional District.
This year’s payment will total 26 and a half million dollars, to support infrastructure improvements and other important projects, as determined by the local governments.
The funding comes according to the terms of the BC / Peace River Memorandum of Understanding, formerly known as FairShare.
This is money pledged by the provincial government to this region, in recognition of revenues raised by the Province from the oil and gas industry, while understanding that communities in the North don’t have the same industrial tax base to contribute to infrastructure funding.
The 26 million will be divided among local governments, within the regional district, by a formula determined by the region.