Commission looking to reduce the amount of borrowing for Castlegar Complex enhancements
The Castlegar and District Recreation Commission has passed a resolution to borrow less money for the the community complex enhancements.
The project cost is currently estimated at over 32 million, but they're looking to reduce the amount of borrowing to 22 million, while pursuing grants and other sources of funding for the remaining cost of the project.
Mayor and Chair of the Recreation Commission Lawrence Chernoff says they don't want taxpayers to carry all the burden, and he says they know the community as a whole will benefit from an enhanced facility now and for community growth in the future.
He says it's not just about a new facility, it's about health for people of all ages around the community.
If the Board approves moving forward with borrowing $22 million over a 25-year term, and if approved through an upcoming referendum, the impact is estimated to be $51 dollars annually for a $100,000 home.