Kicking Horse Culture has secured funding of $120,000 per
annum for the next three years (2015-2017) from the Economic Opportunity Fund. This
means that the Economic Opportunity Fund will provide Kicking Horse Culture
with the full level of funding under the Cultural Services Contract without having
to increase municipal property taxes.
The Economic Opportunity Fund (EOF) is derived from the
Impact Area component of the BC Hydro payments in lieu of taxes (PILT) for the
power generating facilities including dams, reservoirs and powerhouses and is
available to the CSRD each and every year. In 2014, $273,000 was allocated to
Golden and Area ‘A’ Impact Area EOF. This amount of EOF is expected to increase
as more power generating facilities are developed by BC Hydro.
All monies extracted from the EOF must be approved by both
the Golden Town Council and the Area ‘A’ regional director and ratified by the
CSRD board.
The opinions expressed in this blog are my personal opinions and may not represent the opinions of other Councillors nor the opinion of council.
