The way is clear for the Sunshine Coast Regional District (SCRD) to borrow up to $5 million, over a 30-year term, for the Chapman Lake expansion project.
The project involves creating a deeper outlet from the lake to allow the SCRD water system to draw the water level down by an extra five metres if the area is hit by a drought.
Because the borrowing will be long-term, the SCRD had to go to an Alternative Approval Process (AAP) to get voter consent. The threshold to reject the AAP was 1,888 eligible electors. Only 969 valid forms were received by the deadline of 4:30 p.m. July 26.
The SCRD board was expected to adopt the loan authorization bylaw at the July 28 meeting. Repaying the loan will add an extra $23 in parcel tax to the levy for ratepayers in the SCRD water service area.
Construction of the Chapman Lake expansion project, however, is not expected to start until the summer of 2017 and only after the necessary permits are issued by the provincial government.
