Spreading the tax burden
The Regional District of Nanaimo is going ahead with plans to give $945,000 to the Island Corridor Foundation, but it will be split it into two chunks in order to lessen the burden on taxpayers.
RDN general manager Paul Thorkelson said Tuesday the one-time grant would have a significant impact on the 2013 budget.
"Staff have been working with the staff of the Island Corridor Foundation to see if it wasn't an alternate to help spread the impact to the taxpayer over a larger period than one budget year."
Thorkelson said staff proposed splitting the money into two installments, with the first installment of $404,500 paid out in 2013 and the second, $472,500 in the 2014 fiscal year. The motion to split the requisition carried.