Two Goldbelt, Inc. board members have won their re-election bids and a former board member is rejoining the board after a two-year hiatus.
Incumbents Joe Kahklen and Randy Wanamaker, a City and Borough of Juneau Assemblyman, were re-elected at the Juneau Native corporation’s annual meeting June 7. Past board member Andrea Cadiente-Laiti was also tabbed to join the board.
Cadiente-Laiti fills a seat vacated by Karen Taug, who did not seek re-election and is instead running for a seat on the Sealaska board of directors.
As soon as the board members were sworn in, a special meeting took place to name the board’s officers for the next year. Kahklen was elected chairman of the board, and Wanamaker won the vice-chair spot. Trudy Skan is staying on as the corporate secretary, and Kathy Polk will serve as the board’s treasurer, according to a news release from the organization.
A settlement trust was also created with more than 73 percent of Goldbelt’s shareholders supporting the concept. The board will have to determine how much is initially put into the trust, and cash payments will build the fund up slowly over time, Goldbelt CEO Bob Loiselle told the Empire.
“There won’t be a huge amount of money in it initially,” he said. “It’s almost like a savings account.”
The primary purpose of the account will be to benefit shareholders, namely through distributions, scholarship and burial assistance. It will be a separate legal entity from Goldbelt, Inc. The board will approve payments into the fund “as cash is available,” Loiselle said.
“It likely will be at least a couple years before anything is available to distribute,” he explained.
The fund will be called the Goldbelt Ancestral Trust.
“It’s really going to be for the future generations rather than the current generation,” Loiselle said. “And Goldbelt, Inc. will continue to provide for the current generation.”