06/26/2015 04:28 EDT | Updated 06/26/2016 05:59 EDT

Adults on Calgary-area First Nation share cash from ring road deal with province

CALGARY - It's a happy day for adult members of a Calgary-area First Nation.

Residents of the Tsuu T’ina reserve who are over 18 are to receive an equal share of $137.5 million received in a land transfer deal for a city ring road project.

Another $137.5 million from the agreement with the Alberta government is to be invested in a legacy trust fund.

Chief Roy Whitney says the deal not only provides money for individuals but will allow for the development of Tsuu T’ina land for business expansion.

The exact amount of money for each resident has not been released, and is subject to a population count.

"The ring road was never about a one-time windfall," Whitney said Friday in a release. "It was about the opportunity to build a bright economic future for Tsuu Tina."

Members of the First Nation voted in favour of the deal involving the transfer of 428 hectares of Tsuu T’ina land in 2013.

The province has said the ring road will improve the flow of traffic through and around Calgary. (CHQR, The Canadian Press)