SIX NATIONS, ON –March 8, 2019– The Six Nations of the Grand River Economic Development Trust (EDT) has been investing in the collective betterment of the Six Nations Community since September 2016. The EDT receives an annual distribution of surplus profits from the Six Nations of the Grand River Development Corporation (SNGRDC), which has enabled the EDT to invest over $9.4 million to date (over $3.5 million in 2016, $1.4 million in 2017, $1.7 million in 2018, and $2.5 million in 2019). These profits are generated by SNGRDC through three revenue streams 1) Nation Enterprise, which are on reserve business assets; 2) Economic Interests, which include 14 renewable energy projects; and 3) Joint Partnerships, such as A6N a utilities-based construction company.
In addition to providing a collective benefit to the Six Nations Community, all approved applicants must align with the Trust Indenture, the Six Nations Community Plan, Community Needs & Priorities, and the EDT Investment Guidelines. Successful applicants are required to enter into a financial contract with the EDT which outlines what the funds can be used for, and when they must be used by. If funds are not used by the prescribed date, the EDT reserves the right to re-allocate the funds to other projects, or Trustees can issue a promissory note to use the funds in the following year.
In 2018, the EDT approved funding to Kawenni:io/Gaweni:yo Private School in the amount of $118,129.35 to install the underground infrastructure for their laneway at the site of their future school, however the funds were not utilized by the Dec 1, 2018 deadline. The EDT has decided to re-distribute these funds to three approved 2019 applicants. Organizations receiving additional funds include: The Six Nations Language Commission $34,000.00, Six Nations Health Services $30,000.00, and the Six Nations Community Foodbank $54,129.35.
The Economic Development Trust is an application-based process, if you know of group or organizations who would benefit from the receipt of these funds please encourage them to apply. For more information about the Economic Development Trust (EDT) visit www.sndevcorp.ca/edt/ or email trust@sndevcorp.ca
About the Economic Development Trust: The Economic Development Trust (EDT) is the mechanism in which surplus profits generated by Six Nations of the Grand River Development Corporation (SNGRDC) are invested into the Six Nations Community for the collective benefit of its members. This model of distribution was a direct result of the 2011 community engagement study “We Gather Our Voices”. The EDT will continue to invest in the Six Nations Community in future years through yearly distributions made possible by SNGRDC. Economic Development Trustees include Rachel Martin (Chair), Jill Hill, Julie A. Hill, Cathy General and Alaina VanEvery. For more information visit www.sndevcorp.ca/edt/
