The Town of Gibsons is looking for voter approval for another major infrastructure loan.
At its July 30 meeting, council authorized an Alternative Approval Process (APP) for borrowing of up to $3.3 million to complete the extension of the aquifer water supply to Zone 3.
The budget for the Zone 3 project is set at around $3.4 million, but the Town also needs to do some water main replacements, bringing the total cost of the work to be covered by the loan to $3.62 million. The Town will also use about $290,000 from reserves and user fees.
A staff report said although the loan would increase the Town’s annual debt payments by about $182,000, the estimated savings from not having to buy water through the Sunshine Coast Regional District (SCRD) could be as high as $200,000 per year – enough to offset the loan payments.
Mayor Bill Beamish said that’s one of the reasons why this AAP differs from the one for a $1.76-million loan to upgrade the Prowse Road sewer lift station in June, which came close to being defeated. He also noted the SCRD will be pleased to see the Zone 3 project moving forward.
Coun. Aleria Ladwig suggested that information be included in the Town’s public notices about the AAP.
The Town is planning two information sessions, Sept. 4 and 18.
The deadline for people to submit elector response forms will be 4 p.m. Sept. 25.
Director of infrastructure services Dave Newman also gave council a brief update on the well drilling that’s already underway as part of the Zone 3 project. He said a pump test to determine the capacity of the well near Oceanmount Boulevard, known as Well 6, is scheduled for next week. An earlier test well at Dougall Park did not produce enough flow to supply Zone 3.
