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SOUTHERN INTERIOR DEVELOPMENT

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OVERVIEW

On February 27, 2006 the Government of British Columbia enacted legislation launching the Southern Interior Development Initiative Trust with a $50 million one time allocation paid into a Regional Account. The Trust has the full powers and capacity of an individual and is not an agent of the government. The objective of the Southern Interior Development Initiative Trust is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors.

Governance of the Trust is the responsibility of a 13 member Board of Directors. Four Directors are appointed by each of two Regional Advisory Committees (RACs) representing the Columbia Kootenay and Thompson Okanagan regions. The remaining five directors, all of which are from the Trust area, are appointed by the provincial government. RAC membership is comprised of local government elected officials and members of the Legislative Assembly, from the region.