Nanoose Bay residents will get an opportunity to decide whether to allow the Regional District of Nanaimo to take out a loan on their behalf to pay for a reservoir improvement project.
Property owners in the Nanoose Bay Peninsula Water Service Area (NBPWSA) can make that decision via an Alternative Approval Process that has been set up by staff, who have already prepared an engagement plan, elector response form and the borrowing bylaw.
The project consists of renewing the Arbutus Reservoir, which is at the end of it life cycle. The plan is to build new water storage infrastructure at Notch Hill to ensure system resiliency and to accommodate planned growth in the Lakes District of Nanoose Bay.
The RDN plans to borrow $1.1 million for the project.
READ MORE: RDN asked to pay for report on potential upgrades at Nanoose Place
If less than 10 per cent of the service area residents submit elector response forms, the project will go ahead as planned. This would see property owners pay $443 each or an additional $32 per year for 25 years on their taxes. The total number of electors to which the AAP applies to is 5,381.
The RDN board unanimously voted at its regular meeting on May 4 to introduce and give three readings to the “Nanoose Bay Peninsula Water Service Area Reservoir Improvement Loan Authorization Bylaw No. 1911, 2024. It will be forwarded to the Inspector of Municipalities for approval.
The board also endorsed the engagement plan for the project.