Borrowing
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Higher interest rates making home ownership harder for many MontrealersOn October 26, the Bank of Canada raised its benchmark rate to 3.75 per cent. Most major banks followed, increasing their prime lending rates to 5.95 per cent.CanadaOct 28, 2022
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New Vernon, B.C. recreation facility would hike taxes for homeownersIf the borrowing is approved, the tax increase would be phased in over four years, and by 2027 the additional cost per year to that average household would be $292.CanadaAug 31, 2022
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$28-million loan approved for Greater Vernon Cultural Centre constructionThe Regional District of North Okanagan said the borrowing is expected to cost the average household $49 per year for 20 years.CanadaMay 6, 2022
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New Vernon pool, recreation facility may require ‘serious’ tax hikeThe rough cost estimate for the project is $83-million.MoneyMay 28, 2020
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Coronavirus: Kelowna considering borrowing up to $150M to cover late taxesThe proposed bylaw requires the money to be paid back by the end of the year and city staff said the municipality would not necessarily take out the full amount.PoliticsApr 19, 2020
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ANALYSIS: Finance Minister Bill Morneau’s odd plan to help homebuyers won’t help with housing affordabilityThe chief economist at TD Bank said the budget's measures to help first-time homebuyers could actually push housing prices up by as much as 5 per cent. And that means the Liberals' attempts to make it easier for first-time home buyers could actually make it worse.PoliticsMar 20, 2019
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Swan Lake Corridor property owners face $5.2-million sewer decision"One of the key factors in this whole program is to try to improve the environment," the regional district area director said.PoliticsJan 3, 2019
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Vernon cultural centre borrowing would cost ‘average’ household $48 a yearThe figures were released as the regional district gears up for a referendum on borrowing up to $25 million for the new $40-million facility.PoliticsAug 28, 2018
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Downtown Vernon location picked for proposed $40-million cultural facilityA referendum on borrowing $25-million for the project is expected to take place this fall.PoliticsJun 21, 2018
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Plans for new $40-million Vernon cultural facility move forwardThe regional district plans to borrow $25-million for the project.PoliticsMay 24, 2018
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