December 18, 2014 - 2:32 PM
PENTICTON - The people living on Corry Place in Penticon recieved an early Christmas present from city council this week. The councillors voted unanimously in favour of a staff recommendation to include the reconstruction of the street in the 2015 budget.
Prior to the start of budget talks on Dec. 8, a Corry Place resident made a request to council to include the item in this year’s budget discussions.
A public consultation session held on November 13 revealed that Corry Place residents were interested in underground electrical and cable services, but the city received several comments from residents who felt those services to be too expensive. A survey in the form of a questionnaire also revealed a majority desire to see the street improvements move ahead without underground electrical and cable.
The $550,170 project will include road, curb, water main, sanitary and storm sewers, along with street lighting and electrical upgrades for the street. Landowners will be responsible for $24,062 of that total, subject to a local service area bylaw.
Residents will be given the opportunity to pay their portion of the project through annual payments over 20 years, with interest at 3.5 per cent, or in one lump sum payment.
The bylaw would be approved subject to a petition against the tax by affected property owners. At least 50 per cent of property owners and 50 per cent of the total assessed value of all parcels subject to the tax would have to sign a petition against the project in order to defeat the bylaw.
The bylaw also contains provisions protecting property owners from cost overruns and ensures the tax is reduced if the project is completed under budget.
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News from © InfoTel News Ltd, 2014