Prince Rupert Legacy Inc

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Prince Rupert Legacy Inc. (PRLI) is a 100% wholly owned subsidiary of the City of Prince Rupert.

 

Incorporated in 2014

Incorporation occurred after approval by the Inspector of Municipalities from the Province of British Columbia and by resolution of Council.

 

Maximizes Benefit to the City and the Community

  • When a municipality sells land, the proceeds go to a land reserve to buy more land or items of a capital nature (Community Charter Section 188 (e)).
  • PRLI was created to enable previously owned City land to be sold without the reserve restriction.
  • Company earnings can be distributed as dividends to the City for its general use.

 

Directors Appointed by Council

The company has 3 directors: the Chief Administrative Officer; the Corporate Administrator and the Chief Financial Officer of the City of Prince Rupert.

 

Documentation

Articles of Incorporation

Prince Rupert Legacy Fund 2016 Financial Report

Prince Rupert Legacy Fund 2015 Financial Report

 

Signatures have been omitted from the Articles of Incorporation for general security reasons