BC Hydro Peace Agricultural Compensation Fund

The board has made $250,000 available through the BC Hydro Peace Agricultural Compensation Fund for the first intake of 2020.

About the BC Hydro Peace Agricultural Compensation Fund

As part of the Site C Agricultural Mitigation and Compensation Plan, BC Hydro has established a $20 million fund to support agricultural production and related economic activity in the Peace Region. The BC Hydro Peace Agricultural Compensation Fund is governed by a regional decision-making board, responsible for overseeing the management and disbursement of the fund.

The 10-member board is comprised of six members that are appointees of regional agricultural associations or the Peace River Regional District (PRRD), one member who is a Peace River Valley agricultural producer and three members-at-large.

The three members-at-large are all agricultural producers in the B.C. Peace Region and were appointed for different length terms, to ensure that one member-at-large position is open each year.

Features and Benefits of the Fund

  • Supports a broad range of organizations whose work directly benefits agriculture in the Peace Region
  • Flexible project eligibility guidelines to reflect the complex and diverse needs of the agriculture sector
  • Regional decision-making leverages local knowledge and the best information available to acknowledge the Peace Region’s agricultural strengths, needs, challenges and opportunities
  • An efficient approval process for complete and well-documented applications

Application Deadline

Completed funding applications must be received by 4:30 PM Friday, January 31, 2020 or they will not be reviewed.

To Apply

Please review all program documents in detail as incomplete applications will not be reviewed by the board.

Completed application forms with all supplementary materials should be provided electronically to Northern Development by email to jo-anna@northerndevelopment.bc.ca.

Questions?

Please contact Northern Development staff to discuss your project in further detail.
Phone : (250) 561-2525
Email: jo-anna@northerndevelopment.bc.ca


Agricultural Fund Vision Statement and Principles

The vision statement for the Agricultural Fund establishes the purpose and intent of the Agricultural Fund. This vision is consistent with regulatory requirements and is aligned with feedback received through consultation. The vision statement is to: Support the Peace Region’s opportunity for agricultural production and agrifoods economic activity.

The principles defined below provide guidance to BC Hydro, the BC Hydro Peace Agricultural Compensation Fund Board and the Trust.

Fairness and transparency

The agricultural fund will be governed in a fair and transparent manner so that all applications are reviewed on merit and given equitable consideration.

Regional decision making

Funding allocation decisions will be made in the region benefiting from the best information available and knowledge on the Peace Region’s agricultural strengths, needs, challenges and opportunities.

Professional and cost effective

The governance structure should facilitate timely funding allocation decisions, ensure diligence in document management, record keeping and reporting and have strong communication capabilities to interact with and support agricultural fund applicants. The structure must be cost effective as administrative costs must be covered internally by the agricultural fund budget.

Accountable

The governance structure must ensure that the agricultural fund meets the regulatory requirements set out by the EAC Condition 30, that funding recipients and projects meet the eligibility and reporting requirements of the agricultural fund and that financial and other reporting is completed to acceptable standards.

Inclusive

The agricultural fund must be administered in a manner the recognizes the diversity of agricultural sectors, interests and opportunities in the Peace Region.

Service Area

The agricultural fund’s eligibility will target activities that will enhance agricultural lands, operations or agrifoods economic activity in the B.C. Peace River region, as defined by the borders of the Peace River Regional District.

2019-2020 Board Members

The BC Hydro Peace Agricultural Compensation Fund is looking for a new member-at-large to join the regional decision-making board. Learn more about the opportunity.

  • Rick Kantz, B.C. Grain Producers Association
  • Heather Fossum, Peace River Forage Association of B.C.
  • Howard Goertz, Peace River Regional Cattlemen’s Association
  • Connie Patterson, B.C. Breeder and Feeder Association
  • Blair Hill, Peace Region Forage Seed Association
  • Angela Watson, Peace River Regional District
  • Gene Gladysz, member-at-large (one-year term)
  • Travis Winnicky, member-at-large (two-year term)
  • Malcolm Odermatt, member-at-large (three-year term)
  • Colin Meek, Peace River Valley agricultural producer (two-year term)

Read the Board Terms of Reference here.

Fund Administrator

BC Hydro appointed Northern Development Initiative Trust as the financial administrator of the Peace Agricultural Compensation Fund in 2018. The Trust’s role is to sustainably manage the $20 million fund and provide administrative support and expertise to BC Hydro and the board to effectively manage the fund for a five-year term. The board and Northern Development Initiative Trust worked together in fall 2018 to develop a financial management plan for the fund, with a goal of preserving the $20 million capital investment and using investment returns for grants for the first five years.

Visit BC Hydro’s website for more information.