Home Ā»
Trust has 70 active programs supporting basin residents
Annual revenues totalled $71.9 million in 2018/19
Columbia Basin Trust is now providing over 70 programs and initiatives to Basin communities thanks to a strong year for its investments.
āThe performance of our hydropower facilities once again surpassed our expectations,ā said Johnny Strilaeff, Columbia Basin Trust President and Chief Executive Officer. āThe focus on managing these assets to ensure reliability resulted in fewer unplanned outages. And now with the purchase of the Waneta Expansion Generating Station, Basin residents will enjoy even greater benefits now, and in the future, as more of the revenues are injected back into this region.ā
Revenues from its combined investments in hydropower facilities, real estate, market securities and business loans grew from $64 million in the 2017/18 fiscal year to $71.9 million this year, as released in its 2018/19 Annual Service Plan Report. Approximately 80 per cent of the Trustās revenues come from the sale of hydropower generated by its assets in the West Kootenay jointly owned with Columbia Power Corporation.
In 2018/19 the Trust committed $62.6 million in programs, services and investments to positively impact the communities and people of the Basin.Ā This included $1.9 million for infrastructure to expand broadband and help develop the economy, $8.1 million for business loans and real estate investments, plus financial support for 1,750 projects and partnerships.
Highlights from the past year include:
- $800,000 towards theĀ purchase of69.68 hectares of beach and wetlands by the Regional District of Central Kootenay along Kootenay Lake at Crawford Bay to support public lake access for residents and protect environmental values;
- Purchase of Crestonās 80-plus year-old grain elevators (pictured right), two of four remaining wooden grain elevators in British Columbia, to ensure their structural integrity and historical preservation;
- $2.5 million increase to theĀ Energy Retrofit Program to help ensure existing affordable housing units are maintained, cost-effective, energy-efficient and comfortable for residents;
- $3.2 million investment inĀ 25 new housing units in Cranbrook for low-income seniors;
- Launched a $3-million, multi-year BasinĀ Physical Literacy and Youth Sport(PLAYS) initiative to support youth recreation and well-being;
- Launched the multi-yearĀ Energy Sustainability Grant for community-purpose buildings;
- Launched a three-year, $1.5-millionĀ Trail Enhancement Grants program;
- $650,000 partnership with the Nature Conservancy of Canada to expand theĀ Darkwoods Conservation area by 14 per cent; and
- A new $6-million partnership between the Trust,Ā College of the Rockies and Selkirk College will work toward shared priorities to enhance the quality, availability and uniqueness of the college experience for students.
The Trustās Columbia Basin Management Plan sets out 13 strategic priorities to guide its work supporting Basin communities from 2016 to 2020. Next year, the Trust will begin consulting with people in the region to renew them.
āWeāre looking forward to connecting with people to imagine the possibilities,ā said Strilaeff. āWe want to hear their bold and innovative ideas that will help shape the future of how we live, work and play in the Basin.ā
Read more about the Trustās fiscal performance in the 2018/19 Annual Service Plan Report.
Learn more about the Trustās progress on its strategic priorities.
Check your mailbox forĀ Our TrustĀ magazine which showcases some of the remarkable stories of people and places around the Columbia Basin or view it online atĀ ourtrust.org/magazine.
Information about the upcoming public consultation will be available atĀ ourtrust.org/engage.
Lead image: A new $6-million partnership between the Trust and College of the Rockies (pictured) and Selkirk College was created. Photos submitted by Columbia Basin Trust
Columbia Basin Trust