AAP to borrow funds for Balfour Water System fails
April 4, 2017
An alternative approval process to seek elector approval to authorize the Regional District of Central Kootenay to borrow $583,323.00 for upgrades to the Balfour Water System has failed.
The borrowing was part of a $3.4 million project to replace the reservoir, install universal metering, upgrade standby power, replace the upper zone pump station, extend the distribution system and looping, and provide hydrant infill.
The RDCK needed to receive 33 elector response forms to prevent the Board from proceeding with the bylaw and subsequent borrowing. Staff received 50 forms, of which 45 were verified.
The Balfour Water System Upgrade and Universal Metering Project had been granted $1,698,500 in federal funds and $1,121,010 from the Province through the Clean Water and Wastewater Fund for a total of over $2.8 million. That amount equaled 83% of the project cost. The remaining 17% of the project needed to be borrowed.
Now that borrowing cannot proceed, the project may no longer be eligible for this grant funding. Staff are investigating how to move forward with the project.
General Manager of Environmental Services
The content on this page was last updated April 4 2017 at 3:54 PM