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Frequently Asked Questions

What are the goals of NKDFS?

NKDFS was formed to disperse the funds of the Northern Development Fund by investing in projects that support one or more of the key aspects of economic development and contribute to community stability within the investment area. 

The Board of Directors has adopted the following strategies for the 2015-2016 fiscal year:

1)     To fund projects that address impacts most important to the communities.

2)     To fund projects on a first come, first serve basis.

3)     When provided with different applications, to choose projects that promise more economic benefits over those that offer fewer economic benefits.

 

How much has NKDFS invested since inception?

At October 2015 NKDFS has invested $8,862,659.00 in 279 economic development projects since inception. New projects are approved at each Board meeting. For an up-to-date figure on NKDFS investments visit Projects

 

What are some of the results of NKDFS investments?

The following are just a few of the results made possible by NKDFS investments.

Saik'uz First Nation completed a kitchen upgrade enabling an expansion of the catering program and service to the local area. District of Vanderhoof has increased accessibility and safety by upgrading the local airport.

The Village of Fraser Lake has erected billboards along the highway to promote tourism and attract local and non-local investment. As well, the community has benefitted with improvements to the Fraser Lake Arena and preparation of commercial and industrial lots for sale to entrepreneurs.

The Burns Lake Mountain Biking Association has built a world-class network of trails on Boer Mountain and in October 2013, the International Mountain Bicycling Association (IMBA) announced that Burns Lake, BC, Canada had been awarded Canada’s first IMBA Ride Center designation ( http://www.burnslaketrails.ca/index.php ). As well, Lakes District enjoys the economic benefits of a new Multi-Sport Facility, downtown revitalization, and upgrades to the Burns Lake Library.

With assistance of NKDFS investment, Kitamaat Village has developed the Tsee-Motsa Interpretive Trail, purchased the Haisla Nation vessel, and helped to purchase a Rescue Vehicle for the Kitimat Marine Rescue Society.

Learn more about NKDFS investments and results at Projects

 

Where does NKDFS get its funds from?

In 1997, as part of a resolution of legal issues surrounding the cancellation of the Kemano Completion Project in northwestern British Columbia, the government of British Columbia and Alcan Inc. (now Rio Tinto) each contributed $7.5 million to create the BC-Alcan Northern Development Fund.

Of the original $15 million, $5 million was provided to NKDF to be used as a working fund to invest in projects and programs and $10 million was placed into a legacy fund with the goal of funding NKDFS endeavors in perpetuity.

Fund investments are managed by the provincial government, through the British Columbia Investment Management Corporation, a provincial Crown Corporation. Monies of the Northern Development Fund—to be used in support of the programs of the NKDF Society—are in investment vehicles which are generally conservative but which also provide some opportunities for growth.

NKDFS funds projects in the communities throughout the investment area by investing interest earned from the Northern Development Legacy Fund.

For more information and detail on NKDFS financial matters visit Annual Reports

 

Under project expenses you say eligible expenses must be incremental to a project. What does ‘incremental’ mean?

Incremental costs are those expended toward completion of a project, but which would not occur if the project didn't exist. This means expenses are not part of normal operational expenses for the organization making the application. The expenses arise only as a result of the project being undertaken. For example, wages for regular staff members would not be eligible expenses - rent or telephone costs already being paid by the organization as a part of day to day business operations would also be considered ineligible.

 

Can I include grant writing expenses in the project budget?

No, grant writing is inelgible expense.

 

Do I have to include letters of support?

Letters of support often demonstrate that not just your organization but other organizations in the community will benefit from the project and support it. This will strengthen your case when the proposal is before the Board of Directors. In the case of Municipalities and Regional Districts which are already delivering a community mandate, a resolution or motion is necessary, but an application will still be strengthened with demonstrated support from specific sectors such as the business community and First Nation organizations. Should you decide not to include letters of support, the risk is that your application may be denied or tabled to allow time to gather proof of support for your project.

 

How many quotes do I need to provide for work being done as part of the project?

We ask for a minimum of three quotes to be provided for each expense in the budget. We recognize that in small communities there are often fewer contractors/options to choose from but we ask that you do your best to secure a variety of quotes for the work.

 

We have a regular contractor we always use. Do we still have to provide 3 quotes?

Yes. The purpose of the quotes is to ensure a competitive process and best value for the investment.

 

What file format should I submit my proposal in?

Please submit the body of your application as a word document and all attachments as a .pdf file. It is okay to submit a .pdf file with the complete application including attachments, but if you do so, please also submit the body of your proposal as a word file. Please avoid using fancy fonts, extra formatting, colored boxes or unnecessary page breaks in your application. It is not necessary to start each section of the application on a different page. Please stick to the formatting provided in the template.  It is okay to insert photos in your application if you feel they will strengthen your proposal.

 

What happens after I submit a proposal?

The Manager will review your proposal and get back to you with any questions. The application will then be brought forward at the next Board meeting for review by all Directors who will make a decision.

 

When will I hear about a decision on my proposal?

Proposal deadlines typically fall 6 -8 weeks ahead of a Board meeting. A decision will be made at the Board meeting and we will get back to you within one week of the Board meeting to notify you of the decision.

 

Do I have to use the proposal and budget templates provided by NKDF?

Yes.  See the following links Proposal Forms and Final Report Forms

 

Do you accept applications from outside the investment area?

Occasionally the Board will consider applications from outside the investment area, but past decisions show that projects will only be funded if they can promise or demonstrate sustainable economic benefits to communities within the area. The Directors have tended to prioritize applications within the area over those from outside the area.

 

In the final report, do I have to provide invoices for the whole project or just the portion funded by NKDF?

You are responsible to report and provide invoices for the entire project. Final Report Forms

 

Why doesn't NKDF pay GST?

Municipal organizations and most Societies are eligible to claim back a portion of the GST. The amount of GST rebate changes as a result of variables outside of NKDF control. For example, amounts may be different according to the type of work completed during the year, the percentage of the organizations revenue that comes from Government, and the type of organization. These factors make it difficult to predict the amount of GST that will be refunded to an organization after the end of the fiscal year and ultimately become revenue for the project. The NKDFS has choosen to leave the responsibilty for GST and claims in the hands of the organizations.

 

Will NKDF consider funding more than 50% of a project?

In the earlier years of the fund the Board occasionally approved amounts higher than 50% of project costs, but only where the applicant could make a case for financial hardship. In recent years, the Board is requiring more leveraging and taking a firmer stance on the 50% guideline.

 

Can I email my final report?

Yes. Please submit the final report as either a word document or .pdf document and scan all invoices/receipts and attach as .pdf files.

 

Will you accept a final report by regular mail?

Yes. Please note it will take us a little bit longer to process it.

 

I’d like to become a Board member. Are you accepting applications?

Yes. We accept applications to be a Director on an ongoing basis. We will keep your resume on file and contact you when a vacancy opens up.

 

Is NKDF on social media?

Yes! We have a Facebook page and would love for you to join us there. https://www.facebook.com/NKDFS