The Alternate Approval Process on the new CVRD Civic Centre regional office building is underway.
The project is estimated to cost over $11-million, with monies coming from grants and reserve funds, as well as tax-neutral long-term borrowing.
District CAO Russell Dyson says that, “currently the CVRD leases its facilities for approximately $330,000 per year and since 2004, has been placing $175,000 per year into a reserve fund for a new regional office outside the floodplain.”
“Instead of paying rent, we will be redirecting these funds towards a debt repayment similar to a mortgage payment. There is no tax increase to residents and we would own a community asset.”
He notes that the AAP is an opportunity for those that oppose to the borrowing being proposed to sign a petition. If they receive 10% of the electorate having signed a petition, then they cannot proceed with the project unless they go to a referendum.
The deadline to sign a petition opposing the fund borrowing is August 18th.
Dyson notes the new office building will have many benefits for the CVRD and residents. He says it will provide meeting space and more office space for workers, and they will be able to have an emergency operations centre.
For further details on the new Civic Centre and the Alternate Approval Process, visit the CVRD’s website: www.comoxvalleyrd.ca.
