Did you know that UBID’s loan of $3.7 million dollars for the Water Treatment Plant would be $500,000.00 cheaper through Municipal Finance Authority? This savings would only be available if we convert to the CVRD.
As explained in the conversion study roughly 45% of water mains in Union Bay need replacing within 5 to 10 years. Capital Expenditures Charges will not cover this much needed work. It will come from landowners pockets, again.
With a combination of Infrastructure Grants and reduced borrowing costs by accessing the Municipal Finance Authority the out of pocket cost to landowners can be reduced by 60 to 80 %. Just remember the CVRD received grants and MFA for their Water Treatment Plant and landowners saved 80%.