The Community Benefit Share (CBS) is an integral part of NSEDC’s efforts to help sustain an ongoing fisheries-related economy in the region. Each member community receives an equal distribution of the share and the remittance is made to the municipal government.
In the spirit of self-governance, NSEDC placed few restrictions on the funding when designing the program in 1999. NSEDC’s terms for the utilization of the CBS stipulate that determination of the best use for the funding must be decided through a public process at the municipal level in each respective community, that the community apply its share to the highest and best use for its community subject to limits established by federal law, and that the community report to NSEDC how the funds will be utilized. NSEDC will remit the CBS funding to each community upon receipt of documentation supporting that these conditions have been met.
NSEDC is very proud of this program, seeing it as a mechanism to provide financial benefits to each of our member communities in a time when our region is experiencing economic hardship.
For more information, contact:
Paul Ivanoff III,
Community Benefits Director