Terrace Standard, Wednesday, January 15, 1992 — Page A7

Loans body gets bigger

TERRACE —A_native-based
loans organization received its
formal unveiling here last week
with the official opening of an
office.
. Tribal Resources Investment
Corporation (Tricorp) has been
here since spring but now has an
- official- office. in the provincial
government’s training and
enterprise centre: on Eby and
Lazelle.
: Based in Prince Rupert where
“jt opened in 1989, the office
here marks qn expansion of its
operating: ‘territory, local
representative Arthur Mercer
said last week.
“The expansion was made
_ possible when the Gitksan and
“Wel’suwet’en of. the Hazelions
joined the. original three tribal
participants
Haida and Tsimshian,
“: “We're pleased to be able to
“+ pet into this area. It’s something
that native people have talked
--about,’® said Mercer.
..."Qur mandate is to foster
economic development and
~we'll be able to do that better
now,’’ he added.
~ Mercer came to Tricorp from
a position as economic develop-
“ment officer for the Gitladamix
band in New Aiyansh.

Tricorp loans money at
market. rates to new or existing
businesses owned by natives.
~The organization is eligible
for $4 million fram the federal
government in its first three

~ years of operation to establish a
capital pool for investment.
Its’ backing of native
businesses comes in the form of

" capital loans, operating loans
and bridge financing with other
financial instititutions and
government programs.

the Nisga’a, |

’ Tricorp through the business’

~ development centre of 16-37
-Community Futures, another
federally-backed organization
‘here, also gives assistance in
drawing up business plans.

“Tricorp board members and |

Jofal officials attended the:. Ti an, .

16 opening.
- "We find that what’s good
for the native population in our

‘commitment;

ma

aréa in general is good for our
cily as well,’ said Terrace
mayor Jack Talstra.

Tricorp chief executive of-
ficer Frank Parnell said it has
already committed about. $3
million of the $4 million set
aside for it by the . federal
government,

‘He anticipates increased len-
ding opportunities now that the
Gitksan and Wet’suwet’en ter-

ritory has. been expanded to -

speed up the draw down of the

remaining $1 million. L
“The money from the initial

agreement. will be used. quicker

and we'll then be able -to~

negotiate’ a new agreement
faster,’? Parnell said.

In addition to the $4 million -

“Tricorp. ‘is “*also

receiving. $250,000 ‘a year "from !

the federal government to pay
Expenses.

>
t
4
?
at

; amount will be for wages. ‘The

STOLEN IN QUEBEC,
UENSED IEGALY

ARTHUR MERCER, left,
is the person working
out of the new Tricaorp
office here. Seated is
Frank Parnell, the chief |
executive officer of the

native-based loans
organization. It began in
Prince Rupert two years

D077

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Tricorp has yet 10 have any of assistance in the furure. oe

its loans default although ‘‘it’s
too early to be patting ourselves
on the back,’” said Parnell,

He said the organization is
adding to its investment pool
through interest repaid on loans
it has made.

Parnell said Tricorp estimates
it'll reach self sufficiency once it
has $5 million lent out.

Trae 2

In other Tricorp news, it is
receiving $215,285 from the
federal goveri:ment to hire one
person for two years to further
help develop native businesses.

Federal government
spokesman Bob Inkpen
estimated $80,000 of that

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UT AND ABOUT:

TERRACE —Mount Layton
Hotsprings got more than it
bargained for when 200 dons of
potatoes were harvested last
fall.

- The crop and vegetables are
part of the resort’s plan to make
it as self sufficient as possible.

-But. it didn't think it would
end up the mountain of spuds as
an end product, says resort
managet Diane Payne.

"We just never expected this
would- happen," she said,

“As a result, Mount Layton

donated 30,000 pounds
potatoes last month
charitable organizations

of
to
in

Kitimat, Terrace and Prince
Rupert.
The Terrace . Anti-Poverty

Group. Society is on the list
beginning next “month, said
Payne.

The society operates a soup
kitchen and is now looking fora
cold storage location in town,

Mount Layton is also selling
the potatoes at the resort and at
locations around town, said
Payne.

Nisga’a Economic Enterprises Inc. invites the public to review a Development Plan for the. . :
Kwinimass Bay area which is to be harvested under Forest Licence A 16889.

The Development plan consists of a series of maps and written comments on proposed cut
blocks and other resource values that may be affected by the harvest. The Ministry of
Forests is responsible for approval of final submission. The public review process plays an
important role in allowing the public the opportunity to provide input to the Ministry of
Forests. Approval of the plan forms the basis for Cutting Permit Application that provides the
authority to commence harvesting.

The plan will be available for public viewing during the weak of January 14,1992 to January
18, 1992 at the following locations:

Nisga's Tribal Council * Jan. 14-18
Band Office
New Aiyansh

Ministry of Forests
North Coast Forest District
Prince Rupert

Coast Forest Management Ltd.
Prince Rupert

The Responsibility is Yours.

1-800-663-1441

: - 9:00 4 a.m. - 4:00 p.m.

TERRACE YOUTH SOCCER
ASSOCIATION

INDOOR SOCCER

JAN. 16 (THURS.) 6:30
(10-1 2 yr. olds) E.T. Kenny Sch.

7:30 (14+)

Jan 1417 e20an - 4:30 p.m.

dan. 14:18)
dan. 16-17 ;

: 00 a.m. - §:00 p.m. .
7:00 p.m. - - 9:00 p.m.

VAN. 17 Written comments should be received no later than February 18, 1 992 and addressed to:
(FRI) 6230 CLARENCE MICHIEL Colin Benolt, Division Manager
7:30 SCHOOL Coast Forest Management Lid.

Remember to bring non-marking 101 East Sth Ave., Prince Rupert B.C. V8J 1R4

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EE a ee Ge