Covenant Management and Defence Fund Guidelines

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
 
 
POLICY MANUAL 
 
Code: TFB 09003    Policy   Procedure   Guideline  
Title: Covenant Management and Defence Fund Guidelines 
 
 
Approved By: Islands Trust Conservancy Board Date: Aug. 13 2009 
  Resolution #: TFB 09/1094 
 
 
Purpose 
 
The Covenant Management and Defence Fund’s purpose is to provide funding for the 
long-term management, enforcement and defence of conservation covenants held by 
the Islands Trust Conservancy.  
 
Background 
 
The Islands Trust Conservancy has an on-going obligation to its donors, as well as to the 
landowners and residents of the Islands Trust Area and British Columbia generally, to 
steward and defend its conservation covenants.   As with other land conservancies, the 
Islands Trust Conservancy needs secure and lasting sources of dedicated funds sufficient 
to cover the costs of stewarding covenanted land and enforcing and defending its 
conservation covenants.  
 
The Board established the Covenant Management and Defence Fund in 2009 in 
response to receiving a cash donation from a covenant donor for the long-term 
management and defence of the covenant. These Guidelines set out how the Board will 
manage and use funds that are donated to support specified conservation covenants. 
 
Use of Moneys held in the Covenant Management and Defence Fund 
 
Generally, cash donations given to the Islands Trust Conservancy to provide funding for 
the management of conservation covenants will be deposited into the Covenant 
Management and Defence Fund.  
 
The Board will use the money held in this Fund only to cover costs associated with the 
following purposes: 
 

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 Maintenance, enhancement, restoration and improvement of the natural 
features, habitats, ecosystems and amenities protected by a conservation 
covenant, as identified in the covenant or the baseline documentation report 
referenced in the covenant. 
 
 Monitoring compliance with a conservation covenant held by the Board. 
 
 Enforcing a conservation covenant held by the Board in the event of a breach or 
alleged breach of the covenant.  
 
 Defending a conservation covenant held by the Board in the event of a challenge 
to the terms of the covenant 
 
The Board may also use moneys held in this Fund to  
 
 assist a co-holder of a covenant to pay the costs of enforcing or defending the 
jointly-held covenant; or 
 
 assist an owner on whose lands the Board holds a covenant to pay the costs of 
seeking damages from a third party trespasser who has caused damage to the 
covenant area. 
 
Contributing moneys to a co-covenant holder for enforcement and defence purposes, or 
to an owner for litigation costs, will be in the Board’s sole discretion and on such terms 
and conditions it considers appropriate in each case. Prior to contributing money held in 
the Fund for these purposes, the Board will require a written agreement with the co-

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