Advertisement

City of West Kelowna looks to long-term borrowing for new water treatment plant

The City of West Kelowna says it's hoping to move forward with a long-term borrowing plan to finance a new water treatment plant. Global News

The City of West Kelowna says unofficial results indicate it will be able to move forward with long-term borrowing for its new Rose Valley water treatment plant.

Residents had until 4 p.m. on Friday to submit a petition against the city’s plan to borrow up to $23.5 million over 25 years.

The city said it mailed 8,267 petition-against packages to property owners in early September.

Read more: West Kelowna neighbourhood facing tax hike to pay for new water treatment plant

Fewer than 250 forms were returned, according to officials.

Residents who agreed with the long-term borrowing plan did not have to take any action.

If more than 50 per cent of local property owners, representing more than 50 per cent of the assessed value in the area, opposed the borrowing model, the city would have to look at other options.

Story continues below advertisement

Read more: Blasting permit approved for West Kelowna water treatment plant

The city said the long-term borrowing option would increase the amount property owners pay for the treatment plant on their tax bills by $34 over two years, resulting in residents paying $150 by 2022.

However, residents who prefer to make a lump-sum payment can make a one-time payment of $2,815 in 2022.

Click to play video: 'City of Kelowna makes new plans for poop' City of Kelowna makes new plans for poop
City of Kelowna makes new plans for poop – Sep 16, 2020

The water treatment plant is expected to be up and running by the summer of 2022.

Read more: Land purchase brings West Kelowna closer to new water treatment plant

It’s the largest single construction project the city has ever undertaken.

Story continues below advertisement

Sponsored content