KELOWNA – After getting approval from voters this weekend, Lake Country council unanimously passed a bylaw Monday that allows the district to borrow up to $2.615 million to pay for part of a discontinued rail corridor connecting Kelowna and Coldstream.
The district got the voters support they needed to take out the loan this weekend. In a referendum that wrapped up Saturday, over 74 per cent of voters cast their ballots in favour of allowing the district to borrow the money.
With Lake Country’s funding now in place, local governments are moving forward with plans to purchase the discontinued rail corridor from CN.
But according to a statement put out by the City of Kelowna there are still a number of steps to go through.
“With all funding partners now committed, next steps will include transfer of funds, land and lifting of the due diligence conditions on June 1, 2015.”
Comments