Project Redirects Lease Costs and Building Reserve Funds Towards Debt Payment
The regional office building project provides several benefits to the community including redirecting expensive lease payments of $330,000 per year to a debt repayment and community asset. The location of this new facility will help revitalize the downtown core, provide space-sharing initiatives with the City of Courtenay, Village of Cumberland and School District 71.
By relocating the regional office out of the floodplain, those essential services residents require daily (water, sewer and garbage) will be able to continue in times of need. Corporate records, fleet vehicles and information technology infrastructure will no longer be threatened during flooding and storm events. Finally, a specifically designed post-disaster emergency operations centre (EOC) will provide emergency response to the public during emergency/disaster events.
Learn more about how this project is tax neutral here.
Where are We Now
On August 29 the regional district board approved moving forward with the project and adopted the borrowing bylaw. The next step within the project is proceeding with the detailed design and obtaining an updated estimate. The detailed design and updated estimate will be presented to the board in 2018 to ensure the project aligns with the tax neutral goals.