The municipality of Summerland will enter a 30-year lease agreement with the Kettle Valley Railway Society, at the rate of $1 a year.
The lease agreement is the same as the province’s lease with the steam railway for adjacent crown land.
In addition, the municipality has granted a permissive tax exemption to the steam railway. The tax exemption is equal to $41,683.
The steam railway society was formed in late 1989 to preserve a portion of the historic railway track between Trout Creek and Faulder.
The province acquired the railway right-of-way in 1995 and the first steam train ran on Sept. 17 of that year.
Today, the train is one of Summerland’s best-known tourist attractions, operating rides throughout the summer season, as well as special trains at Easter, Mother’s Day, Halloween and during the December holiday season.
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