Coldstream residents will have another chance to get a close-up look on what they’re being asked to vote on Oct. 15.
A second open house and site tour for a proposed new public works building for the district will be held Tuesday, Sept. 27, from 4-8 p.m. at the Coldstream Municipal Office.
The proposed new building would be built on district property directly behind the municipal office where the current yard and building reside. The buildings, which include the original Quonset hut, have reached the end of their useful lives.
An on-site tour of the proposed site and the old buildings is included in the open house.
During the municipal election Oct. 15, eligible voters in the District will be asked if they’re in favour of borrowing $8.5 million to erect the new building.
“The proposed work includes constructing a new public works building, new storage facilities and renovating the old fire hall,” said the district in an information handout available at the open house.
“Additionally, the new public works building will improve working conditions and operational efficiency of district staff.”
The total cost is $10.4 million with the district having $2.42 million in existing resources, leaving the rest to be borrowed. The cost of borrowing, says the district, is about $526,800 per year on a 30-year term.
The long-term borrowing would minimize the overall cost to taxpayers.
The annual could would be funded from a tax increase of 7.4 per cent phased in over three years – 2.5 per cent in Year 1 and Year 2, and 2.4 per cent in Year 3.
“If the referendum is successful, we will immediately proceed with completing the design of the facility,” said Coldstream chief administrative officer Trevor Seibel. “This will produce a tender-ready package that we would then take to market to get a contractor in place. We could potentially break ground next fall.”
And if it fails?
“We will need to develop a plan to come up with the funds,” he said. “This could include grants, taxation and borrowing. We may also need to review the scope of the project in order to look at going back to get elector assent.”
If you can’t make the open house, you can find information on the district website, coldstream.ca/content/public-works-building.
READ MORE: ‘End of life’ Coldstream building toured ahead of referendum
READ MORE: Coldstream referendum seeks $8.5 million public works building
roger@vernonmorningstar.com
Like us on Facebook and follow us on Twitter.