Community group NaramataSlow has reached its goal of $850,000 towards purchase of Centre Beach on Okanagan Lake in Naramata.
Image Credit: SUBMITTED / NaramataSlow
October 28, 2020 - 7:00 PM
A Naramata citizen’s group has reached its financial goal for a lakefront property purchase, days ahead of its deadline.
Community group NaramataSlow said in a social media post today, Oct. 28, it has met its minimum target of $850,000 toward the purchase of Centre Beach on Okanagan Lake in Naramata.
The successful fundraising effort has also paved the way for public ownership of a prime piece of Okanagan lakefront.
"It’s not in public hands yet," Naramata regional district director Karla Kozakevich said. "It will take some time to complete the deal and transfer title, but it’s safe to say we’ve reached our goal and can move forward on the process for it to become an asset to the community."
Kozakevich says she was surprised the fundraising goal was reached before the actual deadline.
NaramataSlow said fundraisers are still ongoing and the group will be reconciling donations made directly to the Regional District of Okanagan-Similkmeen over the next couple of days.
Any further funds raised from this point on will be put toward the final purchase price of $1.7 million in order to reduce borrowing costs, Koackevich said.
Based on the successful conclusion of the fundraising effort, the Naramata Centre and the regional district can now proceed with a sales agreement for a portion of the beach property and a joint use agreement for the remainder of the one acre site.
The fundraising effort had a deadline of Oct. 31 to reach its goal, after which time the property could have been made available for private purchase.
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