At its November 5, 2024 regular meeting, Summerland Council endorsed an Alternative Approval Process (AAP) for long-term borrowing to partially fund two separate infrastructure projects.
The first project requires borrowing up to $2,693,470.00 over a period of 25 years to finance upgrades to Victoria Road S., including the installation of a multi-use pathway, road reconstruction and asphalt upgrades, pedestrian connectivity, and watermain and water service replacement. The total financial impact to the average household would be $40.31 annually and would be recovered through a property tax increase of 0.57% and water rate increase of 1.55% starting in 2026.
The second project intends to borrow up to $3,365,080.00 over a period of 25 years to finance upgrades to Wharton Street, including road reconstruction, storm water improvements, pedestrian connectivity and park enhancements between Kelly Avenue and Victoria Road. The total financial impact to the average household would be $40.26 annually and would be recovered through property tax increase of 2.26% starting in 2026.
As required under the Community Charter, the AAP process ensures residents have an opportunity to submit an Elector Response Form within 30 days, should they oppose long-term borrowing.
If an elector is not opposed, they do not need to do anything. If 10% (1,002) or more of eligible electors submit forms indicating their opposition, elector assent is not obtained. In that case, the District cannot proceed with the long-term borrowing without holding a referendum.
The AAP period will begin January 23, 2025 and the deadline for submitting Elector Response Forms is February 25, 2025 at 5:00 PM. Notice will be given in the local press and will be available for viewing on the District’s website. The Elector Response Forms will be available at Municipal Hall, 13211 Henry Ave during the AAP period and must be submitted to the Corporate Officer by email, fax or in person at Municipal Hall.
For more project information, scope of work and financial implications on both Wharton Street Upgrades and the Victoria Road S. Upgrades, visit the Council meeting portal here.