Prince Rupert Legacy Inc. (PRLI) is a 100% wholly owned development corporation of the City of Prince Rupert. Incorporated in 2014, Legacy Inc. was incorporated after approval by the Inspector of Municipalities from the Province of British Columbia and by resolution of Council. The company has 3 directors, appointed by Prince Rupert City Council - the Chief Administrative Officer; the Director of Corporate & Legislative Services and the Chief Financial Officer of the City of Prince Rupert.
What are the benefits of a wholly owned Development Corporation?
Maximal 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 that limits how proceeds from land sale can be used.
- Company earnings can be distributed as dividends to the City for its general use.
Want to know more about Legacy as well as the benefits it's brought to the Community?
Check out this Info Sheet and FAQ (PDF)
Documentation + Financial Information
Articles of Incorporation (PDF)
Signatures have been omitted from the Articles of Incorporation for general security reasons
Financial information is posted alongside the City's Annual Reports and Financial statements, here.