  In 1999, the NSEDC Board of Directors introduced the Community Benefit Share Program as an integral part of NSEDC's efforts to help build an ongoing fisheries-related economy in the region. This program utilizes a portion of the annual distribution from Bering Sea fisheries-related investments (second-generation funds) to directly benefit NSEDC member communities by remitting funds directly to the member community. The remittance is equal to each community and made to the member communities' city government.In the spirit of self-governance NSEDC placed few restrictions upon the share when designing the program. NSEDC's terms for the utilization of the community benefit share, in general, stipulate that the use of the money must go through a public process at the community municipal level, that the community apply its share to the highest and best use for its community subject to any limits established by federal law and that the community report to NSEDC on how the funds will be utilized; NSEDC will remit the funding to each community upon receipt of a report from that community which meets these conditions. In addition, as a condition imposed by the state in forwarding NSEDC's CDP to the National Marine Fisheries Service, NSEDC added the following provision to the Community Benefit Share: copies of correspondence to and from the communities regarding the Community Benefit Share Program will be provided to the state. As a further revision first requested by the state in a fax dated October 14, 2002, the following additional provision is added to this project description: The community benefit share funds will be audited by NSEDC to ensure the funds are used for fisheries-related purposes consistent with 50 C.F.R. 679.1(e).  NSEDC is very proud of this program,
seeing it as a way for us to provide financial benefits to each of our member communities in a time when our region is experiencing economic hardship and declines in regional fisheries stocks.Please contact Janis Ivanoff for more information Janis Ivanoff Vice President & Community Benefit Director
Norton Sound Economic Development Corporation |
