City Hall Loan Authorization Bylaw considered at Oct. 6 Council Meeting

FOR IMMEDIATE RELEASE

October 05, 2020

West Kelowna Council has received a report to consider and resolve to adopt the City Hall Loan Authorization Bylaw at tomorrow’s regular Council meeting that will result in no new tax increases to design, build and finance its first City Hall building.

At the Feb. 11, 2020 Council meeting, West Kelowna Council considered and read three times the bylaw that outlined the recommended use of an Assent Free Loan. This method reflected that no new tax increases to West Kelowna property owners are required. That financial model remains unchanged today.

Since the onset of COVID-19, in March, staff has focused on keeping operations strong and advancing Council’s top priority project – completing the financial model, and beginning detailed design and construction of Rose Valley Water Treatment Plant. Construction is underway and the bylaw that reflects future plant users’ preference for long-term borrowing, with a $34 increase to those water users by 2022, will be presented at the Oct. 13 Council meeting, along with the official tabulated results. Further, an expanded roads and sidewalk program, which was presented at the Sep. 29 Council meeting, also took precedence over other projects, including City Hall.

Despite the impacts of COVID-19, the City remains on strong financial ground, with its revenues, reserves and development cost charges, to advance long overdue infrastructure across the City. In addition to water, roads and sidewalk projects underway, Council’s priority is also to restore and return the Mt. Boucherie Community Centre back to the public, especially with the greater need for expanded indoor community facility space.

Based on the Alternative Approval Process and the extremely close Referendum results in 2016, the City remained diligent, continuing to save funds annually while keeping its operations in a strong state with minimal annual tax increases. Each year, $700,000 is transferred into a reserve fund for City Hall to achieve the goal of borrowing less in future. Council listened to the community who were not in favor of new tax increases, and the financial model for the City Hall project reflects exactly that.