The Comox Valley Water Treatment Project cost $126 million.
To help with the funding of the project, the CVRD received federal and provincial grant funding ($58.5 million) under the Canada Infrastructure Program (ICIP) – Environmental Quality (EQ.
The Comox Valley Water System contributed reserves of $38.5 million and the CVRD has borrowed $29 million over 25 years to finance its share of the construction costs.
The cost of borrowing this money will mean an increase in bulk water rates for users of the Comox Valley Water System. It is estimated the new system will cost roughly $86 per household/year.
Project Funding Structure
Only those connected to the Comox Valley Water System will be responsible for paying for the new system, at an average cost estimated at $86 per household per year.
Not Sure if You are Connected to the Comox Valley Water System?
Please click to expand the map below and find out if your community is included in the Comox Valley Water System. Only those connected to the system will have their rates affected.
In March 2018, the CVRD launched an Alternative Approval Process (AAP) to ask residents if they opposed the borrowing of $29 million in project costs that are not expected to be covered by reserves or grant funding. Those who did not support the borrowing were able to complete an electoral response form indicating their opposition. From February 1 to March 16, 2018 the CVRD received 31 responses from residents who opposed the borrowing. As the number of residents opposed was fewer than 10% of the electorate, the CVRD proceeded with borrowing the necessary funds.
For more information on the AAP process please read our news release.