Windfarm Legacy Trust Backgrounder

HIFN WINDFARM LEGACY TRUST Backgrounder 20, October 2020

What is a Trust?
A trust is a legally distinct entity created by a binding agreement between a settlor and the trustee regarding the use of assets

SETTLOR - Chief and Council
Transfers capital to and enters into a Trust Agreement with the Trustee(s)

TRUSTEES - To be selected
Hold, manage and oversee funds according to the Trust’s purposes and goals

BENEFICIARY - Henvey Inlet First Nation
Receives disbursements from the Trust and benefits from the use of Trust funds to improve infrastructure, member services and community economic development

Other topics covered in this backgrounder

  1. Windfarm Income Projections
  2. How will the funds be used?
  3. Why Use a Trust?
  4. What assets will be settled on the Trust?
  5. What happens to the settled assets?
  6. Distributions to Members
  7. Clawbacks?
  8. Checks and Balances on Withdrawals
  9. Trust Withdrawal Proposals
  10. Board of Trustees
  11. Next Steps

CLICK HERE for the full presentation booklet