Area citizens are invited to share input on the future of the state’s oil and gas Legacy Fund at a free lunch meeting Wednesday, June 11 from 11:30 a.m to 1:30 p.m. at the Teddy’s Residential Suites in Watford City.
Citizen input forums are being organized as part of the Legacy Fund Initiative (LFI) project, convened by the Great Plains Institute. McKenzie County Economic Development Director Gene Veeder is one of the 25 statewide project participants.
“Gathering citizen and community feedback is an important part of ensuring our Legacy Fund recommendations are heading in the right direction. We encourage people to come to this free lunch meeting to share their ideas with us,” Veeder said, noting that project participants are working to develop a consensus vision and recommendations for future use of the state’s growing Legacy Fund.
“The principal of the Legacy Fund could reach tens of billions of dollars by 2030 and we have the opportunity now to have a serious policy dialogue about how best to position the Legacy Fund to create the framework for leaving a lasting legacy for generations to come,” said project co-director Patrice Lahlum.
Open to the public, residents of Watford City and the surrounding area will share a complimentary meal and discuss their vision for the future of Legacy Fund. Facilitators will work with them to develop action plans for the future.
Legacy Fund Initiative project participants will finalize their recommendations this summer and will develop a consensus white paper that will encompass principles, strategies and priorities for the Legacy Fund in advance of the 2015 legislative session.
Established in 2010 by North Dakota voters through a legislatively-referred constitutional initiated measure, North Dakota’s Legacy Fund is set to surpass $2 billion and is projected to reach $6 billion by 2017, when Fund returns first become available for expenditure. Thirty-percent of oil and gas tax revenue is deposited into the Fund.
Community input forums are also being held in Velva, Grand Forks and Lisbon.
The Northwest Area Foundation and the North Dakota Natural Resources Trust provided grant funding to support the Legacy Fund Initiative project and community meetings.
A full project overview and participant list can be found on the Great Plains Institute website at http://www.betterenergy.org/legacy-fund.
For more information on participating in the Watford City citizen input forum, contact Patrice Lahlum at (701) 429-1861 or [email protected].
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