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FORT ST. JOHN, B.C. — Council has agreed to sign two agreements with the North Peace Community Foundation.

Council members voted in favour of signing the Operations Endowment Fund and Legacy Fund Agreements during Monday’s council meeting.

The operations endowment contract establishes the City of Fort St. John as a donor for the foundation on a long-term basis. It also allows the foundation to move forward in the transition to become “fully functional and funded.”

By signing the legacy fund contract, council commitments to continue supporting the foundation by allocating future Site C Legacy Benefit Agreement funding to the foundation.

Through the agreement, 75 per cent of the proceeds will go to the legacy endowment. This endowment will also—and has already—see contributions from other groups and businesses in the region. 

The remaining 25 per cent of the annual payment goes towards the partnership agreement with the NPCF. It will help fund grants-in-aid that non-profit organizations without charitable status qualify for.

The endowment will, eventually, generate revenue on its own from interest. The idea is to remove the burden of funding grants from the city—and by extension, from the taxpayers—and place it on the market by using interest from the endowment.

The Site C Legacy Benefit Agreement funding will commence when the dam
turbines become operational and will be reviewed in five years.

The foundation has taken over supporting local charities, providing grant-in-aid and tax exemptions, which the city accounts for in its operating budget. These responsibilities began being transferred from the city to the foundation earlier this year.

The foundation closed its application period on October 31st for grants-in-aid for non-profit organizations for 2023.

Community members can still apply for the Neighborhood Small Grant Program, which allows residents to apply for grants of up to $500 to allow groups of neighbours to work on community-building projects. The deadline to apply for this grant is November 19th, 2022.

Visit the North Peace Community Foundation website to learn more about the grants.

The foundation’s executive director, Susan Adams, was on Moose Talks on October 28th to chat about the work done so far. The interview can be viewed below:

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Katherine Caddel is a recent graduate of Laurentian University's English Media and Rhetoric program. They grew up in Northern Ontario and recently decided to make the North Peace their new home. When not at work, Katherine enjoys horror movies, playing video games and Dungeons and Dragons.