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HomeNews100 Mile HouseFinancial Plan Released for South Cariboo Rec Centre Concept

Financial Plan Released for South Cariboo Rec Centre Concept

The South Cariboo Joint Committee has released the financial plan for the expansion to the Rec Centre concept plan in 100 Mile House.

Working group Co-Chair Margo Wagner says the estimated cost will be around $14.6 million. $10 million of that will be borrowed from the Municipal Finance Authority and the other $4.6 million through numerous grants and sponsorships.

Wagner explains how this will affect residents in regards to the tax rates increasing.

“If we borrow $10 million, which is the maximum we can borrow, it would mean there would be a residential tax rate increase of about $65 per $100,000 of the assessed value of land and improvements.”

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Not included in the concept plan was a 4-lane pool and a lazy river, which was requested by the aquatic society back in 2011.

Wagner says the problem with having a pool is maintaining it, which would cost around $750,000 per year whereas maintaining the currently designed rec centre is only $200,000 per year.

She says the plan moving forward is to hold multiple public meetings in the new year with hopes of going to referendum in late spring.

Included in the public meetings, the working group will have a side by side outline of what the rec centre would look like – with and without the pool for comparison.

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