Thursday, August 18, 2016

Water Funding Sources Explored

Posted on 8/18/2016 3:09 PM by Ron Manz 107.5 KISSFM
The Regional District North Okanagan Board has asked staff to amend the financial plan for the Greater Vernon Master Water Plan. The directors want the plan implemented in phases, and want a review of all potential funding sources including using reserves, water fees, borrowing and provincial and federal infrastructure grants. Board Chair Rick Fairbairn says the findings will impact future budgets of local municipalities. "The purpose of this financial plan is to put it together, to go back to GVAC, so they have something to work with." Fairbairn says the new financial plan is needed so respective communities know how much to budget for their share of operations. "We've gone back and taken the recommendations from the stakeholder advisory group to consider implementation and where we are going to get the funding and the financial arrangements to that they can make some decisions on it." Fairbairn says all revenue sources will be looked at particularly outside avenues at the national and provincial level. "Yes, borrowing for federal and provincial infrastructure grants will be explored. That's what this plan will identify." Fairbairn says with the water plan referendum defeated, a new financial phased in plan is necessary so infrastructure spending can take place.

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