NVD utilizes strategic partnerships to expand its scope of opportunities and broaden its operating footprint. NVD has entered into a number of partnerships and joint ventures with Yukon First Nations that we believe are critical to our continued success in the Yukon. NVD and its partners seek mutually beneficial projects that meet our return on investment targets.
Tr’ondëk Hwëch’in Trust (THT) and Chief Isaac Incorporated (Chief Isaac).
Dawson-based THT is the largest investor in NVD, having joined us in 2012 through a loan arrangement that was converted to a major equity investment. Chief Isaac is their related development arm. In 2013, Chief Isaac and NVD entered into a 50/50 Joint Venture to acquire the Downtown Hotel. Brian Titus, who is a Tr’ondëk Hwëch’in citizen, is a member of the NVD board of directors.
Carcross Tagish First Nation (CTFN).
The CTFN’s Daana Jili Trust is a major investor in NVD having joined us in the summer of 2012. The development management arm of the CTFN, the Carcross Tagish Management Corporation (CTMC) entered into a 50/50 joint venture with NVD in late 2012 to build the Carcross Visitor Centre. This centre was constructed under the management of CTMC and is operated by the Joint Venture. In May 2013, it was occupied by the Yukon Territorial Government Department of Tourism. We anticipate further partnerships with CTMC.
Vuntut Gwitch’in Limited Partnership (VGLP)
In 2008, NVD and VGLP entered into a 67/33 TW Properties Joint Venture to build a 7,000 square foot building on lands owned by the VGLP in NVD’s Titanium Way Business Park. In 2012, TW Properties JV extended its holdings to include a 49% share of the neighbouring property at 166 Titanium Way in a joint venture with Selkirk First Nation.
NVD has entered into other strategic partnerships. Through both equity investment and loans, the Ta’an Kwäch’än Council is a major investor in NVD. Yukon Indian Development Corporation (“YIDC”) was an early investor in NVD and has provided bridge financing for the Partnership in the past.