Presenter: Luby Pow, SIDIT CEO

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Presenter Luby Pow, SIDIT CEO
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Southern Interior Development Initiative Trust

• Background
• SIDIT created by an Act of Legislation (Bill 8 -
  2005) February 28, 2006 (http//www.leg.bc.ca/38th
  1st/3rd_read/gov08-3.htm)
• Corporation, independent of government
• One time 50 million allocation from the Province
  held in a Regional Account
• Purpose support investment in 10 key sectors
• 13 Member Board provides governance

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Southern Interior Development Initiative Trust

• Purpose of the funds
• To support investments in
• Agriculture
• Economic development
• Energy
• Forestry
• Mining
• Tourism
• Olympic opportunities
• Pine Beetle recovery
• Small Business
• Transportation

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Southern Interior Development Initiative Trust

• Board Members

• RAC Chairs

• Mayor Sharon Shepherd, Kelowna
• Mayor Marty Bootsma, Salmon Arm
• Mayor Wayne Lippert, Vernon, Vice Chair
• Mayor John Dooley, Nelson
• Mayor David Wilks, Sparwood
• Jim Thomson, Chair, Kamloops
• Chief Shane Gottfriedson, Kamloops
• Chief Clarence Louie, Osoyoos
• Christa-Lee McWatters Bond, Summerland
• Cindy Popescul, Cranbrook
• 2 vacant positions to be replaced by C/K RAC
• 1 vacant position to be replaced by T/O RAC

• John Dooley Columbia-Kootenay
• TBA Thompson-Okanagan
• Staff
• CEO- Luby Pow
• Admin Assistant Anita Rhodes

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• Mission
• The mission of the Southern Interior Development
  Initiative Trust is to support regionally
  strategic investments in economic development
  projects that will have long-lasting and
  measurable regional benefits for the Southern
  Interior.
• Guiding Principles
• Award Criteria - sustainable, measurable benefits
• Employment - permanent, full time, high wages
• Increased tax base
• Increased revenue generation
• Diversification innovation, external markets
• Manage Risk
• Partnerships
• Syndications
• Avoid being lender of last resort -- pre
  bankability
• Collaborative due diligence

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2008-2010 Strategic Plan

• Annual Funding Target 7.5 million (plus carry
  over)
• Education Awards approx. 2.1 million
• Commercial Loans or Equity - 25K to 1 million
  per project
• Grants - 10K - 150K per project 750K or 10
  of annual allocation
• Eligibility Criteria
• Grants available to non-profits, charities only
• Minimum of 50 funding from other sources
• Alignment with 10 key sectors
• Located in the Southern Interior
• Demonstrate economic development benefits
• Excluded municipal infrastructure, feasibility
  studies, health studies, religious, sponsorships,
  political donations, school facilities

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Application Process

• Currently - open call
• 2 Stages
• Stage 1 to determine eligibility, invite RAC
  input
• Stage 2 environmental, business plan,
  financials, conduct due diligence and make
  funding decision.
• Applications, Guidelines at www.sidit-bc.ca
• Electronic correspondence preferred
• Approvals and Communications
• Stage 2 - Board Evaluation, Approval
• Contribution agreement, identifying conditions
  and terms
• Public announcements generally made when terms
  and conditions are met.

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Funding Activity to Date

• TOTAL FUNDING COMMITMENT - 22.7 million
• Education Awards - 5.4 million
• British Columbia Innovation Council SIDIT
• 9 program elements focussed on academic awards,
  innovation and commercialization
• SIDIT and BCIC each contribute 760,000 per year
  - 2 year initial commitment
• College Trades and Technology Awards - 2.4
  million
• College of the Rockies, Selkirk College, Okanagan
  College, TRU joint proposal
• 3 year commitment at 800K per year
• Accredited trades and qualifying technology
  programs
• All funding as student awards
• High School Awards - 1.5 million
• Administered by 4 colleges
• Engage all School Districts within coverage area
• Focus on trades, technology and academic programs
  offering dual credits
• All funding as student awards

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Funding Activity to Date

• Southern Interior Innovation Fund - 2 million
  committed by SIDIT
• private equity fund with target cap of 10
  million
• SIDITs max. participation rate is 40
• Emphasis on Technology and Innovation
• Focus exclusively on the Columbia Kootenay and
  Thomson Okanagan regions
• Seeking investors and opportunities throughout
  the entire Southern Interior
• Repayable Financing
• 9.0 million committed to date for projects
  costing 29.9 million
• Grants Approved
• 1.4 million committed to date for projects
  costing 8.5 million

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Funding Activity to Date

• Loan Partnership - with 13 CFDCs
• Commitment of 1 million
• SIDIT and CFDC co-fund loans
• CFDC provides administration for share of
  interest revenue
• Launched September 2008

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• Contact Information
• Web Site www.sidit-bc.ca
• Email admin_at_sidit-bc.ca
• ceo_at_sidit-bc.ca
• Phone [phone]
• Fax [phone]