A new city hall is getting closer to reality for the City of West Kelowna.
The council has approved the borrowing authorization bylaw that will help design, build and finance West Kelowna’s first city hall building.
Currently, the city’s debt is below five per cent of its annual revenue calculation, which in turn allows the city to borrow against its revenue. This means the city can apply to borrow up to $11 million in addition to using money from its reserve fund. This way, the new city hall building can be financed without tax increases on property owners.
“On behalf of our council, I am so pleased that we are moving forward without first city hall that will not result in new tax increases to our community,” Mayor Gord Milsom said.
“We heard the community and we saved funds in order to avoid new tax increases. We are also looking forward to returning the recreation centre back to the community.”
West Kelowna city operation and staff are all housed within the Mt. Boucherie Recreation Centre. After the new building is built, the centre will be reopened to the public.
“As a 13-year-young municipality, we have a lot of infrastructure to establish, and we are grateful to our taxpayers and our staff for keeping West Kelowna in a very strong financial state.”
“We will continue to focus on delivery the Rose Water Treatment Plant as our top priority and we will not resume the other priorities of council.”
READ: West Kelowna council to consider bylaw to build and finance city hall building