The Revelstoke Community Forest Corporation recently presented the City of Revelstoke with a $700,000 dividend payment to the RCFC Legacy Fund. The donation was made during a presentation on Thursday, July 25.
The RCFC Legacy Fund was established in 2017 with an initial dividend of $300,000. A second dividend of $600,000 was made in 2018. This year, the RCFC made a third disbursement of $700,000. The RCFC also provided a $100,000 grant to the splash park. The fund currently sits at $1.5 million.
The purpose of the fund is to help create long lasting projects that benefit the Revelstoke community. For the past three years, the RCFC has been well positioned to take advantage of high log price markets. In an email to the Mountaineer Mike Copperthwaite, general manager of RCFC said excess cash not required for immediate RCFC operations can be paid as a dividend to the city at the discretion of the RCFC board.