Legacy MLC Business Plan LegacyMLC_Business_Plan_040119 | Page 5

GOVERNANCE
Municipally Controlled Corporation
Legacy MLC will be established as a Municipally Controlled Corporation (MCC) under the Municipal Government Act
(MGA). An MCC is a For-Profit Corporation established to provide services and benefits to residents of the municipality,
where a municipality holds the majority control of appointing directors. As a separate legal entity an MCC can pursue
business venture from a perspective that is not always available to a municipality, including profit considerations. The
MGA requires that the profits of an MCC are either reinvested into the MCC or used to the benefit of the residents of the
municipality(ies) which control it.
Shareholders
Lac Ste. Anne County will be the single shareholder in Legacy MLC.
Board structure
The Legacy MLC Board will consist of seven Directors. The elected members of Lac Ste. Anne County Council will be
appointed as the Directors on the Legacy MLC Board. The Reeve will serve as Board Chair.
The Lac Ste. Anne County Chief Administrative Officer, or another officer of Lac Ste. Anne County delegated the
responsibility, will fill the role of Executive Director. The Executive Director will not be a voting board member, but
function as an advisor to the Board and assist in the work of Legacy MLC.
Voting
Each board member will have one equal share of voting strength and decisions will be made by majority.
Dissolution
Although there is currently no expectation that Lac Ste. Anne County will need to consider dissolution or conclude the
operations of Legacy MLC, the corporate foundation will outline the provisions for that possibility. If Legacy MLC ever
does face dissolution or conclusion of its operations, the assets and any ongoing revenue streams would be returned to
Lac Ste. Anne County as the single shareholder in the corporation.
Impact of Control
Controlling the Legacy MLC is not expected to impact Lac Ste. Anne County’s financial viability.
Municipally Controlled Corporation Business Plan
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