The Northern Development Initiative Trust has allocated 100 per cent of their 2017 funds for the Cariboo-Chilcotin/Lillooet Regional Development Account.
“For the first time in the history of the trust [for] the Cariboo Regional Development Account, the annual allocation of funds is fully committed,” says Northern Development Initiative Trust C.E.O. Joel McKay. “That’s success for the trust. That means that the dollars we are making available each year are being fully utilized for projects in the Cariboo-Chilcotin/Lillooet region.”
The annual grant allocation from the account is $1,620,558. The money goes towards a variety of funding programs throughout the area, which includes all of the Cariboo Regional District and parts of the Thompson-Nicola and Squamish-Lillooet Regional Districts.
Funding is approved based on applications to the NDIT and have included community hall upgrades, mountain bike trail developments, airport expansions and upgrades, arena and pool improvements and major tourism infrastructure, says McKay. Portions of the funding also go towards supporting “destination tourism events” like the Clinton Annual Ball and ArtsWells, as well as business facade upgrades.
“The fact that the Cariboo-Chilcotin/Lillooet allocation was fully committed this year speaks to how responsive the Trust’s programs are to community needs in the region and how familiar the communities are with our programs,” says McKay.
McKay says hitting the grant allocation is a positive for the area.
“It’s good news. It means the Trust is well structured to respond to the needs of communities in the Cariboo-Chilcotin/Lillooet Region and that communities are taking full advantage of what’s available to them,” he says. “Over time, the region’s ability to access funds each year, every year for projects that support economic development will make our communities mores sustainable and diversified.”
McKay says he expects the annual allocation to be reached again in 2018.
“Next year we’re hoping for the same amount of success.”