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News Release - March 23, 2016

Regional District of Nanaimo Board Terminates Island Corridor Foundation Contribution Agreement

At last night's In Camera Board Meeting, the Regional District of Nanaimo (RDN) Board voted to provide the Island Corridor Foundation (ICF) with a 60-day notice of termination of the Contribution Agreement as per Section 11.1 of the Contribution Agreement.

Further, the Board directed the RDN member representative to request that the ICF Board of Directors call a special meeting of members as per Section 2.5 of the ICF bylaws.

The RDN entered into a Contribution Agreement with ICF in 2014 to provide up to $945,000 for rail upgrades and the reintroduction of passenger rail service. The funds were collected through taxes under the Grants-in-Aid service and from provincial funding under the Strategic Community Investment Fund grants.

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Contact:

Dennis Trudeau Interim Chief Administrative Officer Regional District of Nanaimo (250) 390-6534 [email protected]