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.
The signatures have been omitted from the Articles of Incorporation for general security reasons