The government of British Columbia and the Northern Rockies Regional Municipality announced a landmark agreement that sets the stage for future community infrastructure funding.
The natural gas sector has expanded significantly in the Northern Rockies region since 2005 including development of the Horn River Basin and new gas processing facilities. With other huge reserves such as the Cordova Embayment and the Liard basin identified, the sector is expected to undertake a major expansion as the Liquefied Natural Gas initiative moves forward.
Natural Gas Sector Expansion and the potential growth of the region will place significant demands on the community for housing, infrastructure and community services that cannot be met only through property taxes. This agreement supports the expansion of the industry by securing infrastructure funding for a growing community, to be provided as the expected growth occurs.
Premier Christy Clark -
"The economic benefits of LNG will be enormous and unprecedented across British Columbia, including the remarkable growth to the Northern Rockies Regional Municipality. We will continue to work closely with local governments and ensure they are prepared for the expansion."
Community, Sport and Cultural Development Minister Bill Bennett -
"I want to commend Peace River North MLA, Pat Pimm, for his advocacy on behalf of his constituents in the NRRM, Mayor Streeper for his community leadership, and ministry staff for their diligence and creativity. This is a novel agreement, one that links funding to growth in the natural gas industry. My congratulations to all concerned."
Peace River North MLA Pat Pimm -
"I am very pleased with today's announcement and I want to recognize the Premier on a promise made and a promise kept. The community has been asking for this for decades and the agreement ensures that as the region grows and community needs increase, the province will be there for the region to help provide the residents with the services they deserve for many, many years to come."
Fort Nelson Mayor Bill Streeper -
"Today is a great day for the residents of the Northern Rockies Regional Municipality. Local communities like ours need help to balance the benefits of the pending economic boom and the increased demand for local services. This agreement was the right thing to do and a tremendous step toward fully realizing the economic benefits to our region."
- This agreement between the provincial government and the municipality comes into effect immediately with funding expected to flow in 2015-2016.
- Special funding to the regional municipality will assist with annual costs of infrastructure, up to a maximum of $10-million per year.
- This is a long term fiscal commitment for 20 years with the potential for extension.
- The current population of the Northern Rockies Regional Municipality is approximately 5,500.
- Medium industry growth scenarios (defined in relation to supply for LNG development) project possible population increases to 11,000 - 13,000 by 2025.
- The municipality has proposed major capital projects totalling $230-million over a 20 year period from 2016-2035.
View video highlights of this announcement: http://youtu.be/-p6Og7EUi8g
Ministry of Community, Sport and Cultural Development