NORD Votes Unanimous Support for New UBCO Water Chair.

The NORD Board has agreed to unanimously support the establishment of a BC Regional Innovation Chair in Water Resources and Ecosystem Management at the University of British Columbia Okanagan. The Okanagan Basin Water Board will contribute a total of $500,000 over five years to help create the research position and fund its work. (Funded in proportion by the 3 participating regional districts)

Lumby,Enderby, Areas C,D,E & F are NOT part of the OBWB Function.) and did not vote on the resolution last night.

Vernon's share over the next 5 years will amount to approximately $63,349+ or a little more than $12,670 per year.

The 5 Parties than share the financing for the NORD Function of OBWB will see their 2010 total Requisition increase from $633,228 by a total of $19,499 per year. ($97,500 over 5 years)

This money paid over the 5 years will be part of $2.5 million total endowment fund that will be used to provide the interest that will pay for the continuous operation of this applied research position well into the future . NORD was assured that this is a one time taxpayer contribution that will not be necessary in the future.