Regional District of Nanaimo Board Withdraws Support for Island Corridor Foundation
The Regional District of Nanaimo Board has voted to withdraw its support of the Island Corridor Foundation.
The Board will give the Foundation 60 days notice of termination of the Contribution Agreement.
The District had entered into a Contribution Agreement with the Foundation 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.
The Island Corridor Foundation says they are in receipt of the letter from the District regarding the termination of the Agreement and say they won’t be commenting until the Board has had time to meet.