A plan for Sun Peaks Mountain Resort Municipality (SPMRM) to borrow more than $8 million has taken another step forward after a successful alternative approval process (AAP) was completed April 30. It will be the largest amount SPMRM has borrowed since incorporation in 2010.
The AAP asked residents to submit their objection to two borrowing bylaws, one for $1,560,000 and one for $6,500,000 for projects related to water and wastewater infrastructure. Because SPMRM didn’t receive more than 150 responses against the proposal the borrowing can move ahead.
Approval must now be obtained from the Thompson Nicola Regional District and Municipal Finance Authority.
Planned projects with the funds include upgrades to the wastewater treatment plant composting facility, an additional rapid infiltration trench, replacement of some bio-reactor clarifier walls, sewer main repairs, a new surface water storage pond and more.
The borrowing, if approved, is another step to improve infrastructure after taking over water and wastewater utilities from Sun Peaks Utilities in 2017. In 2018, SPMRM borrowed $1.4 million for a reservoir project.
SPIN will publish more in depth information on the upgrades as the story develops.