Municipality plans to borrow $7.6 million for ongoing water projects

 | March 8, 2021
Sun Peaks’ village from the air. File Photo.

On March 5 Sun Peaks Mountain Resort Municipal (SPMRM) council passed first and second readings at a Special Council meeting to approve a loan authorization bylaw to secure funding for ongoing water infrastructure projects around the village. 

Council previously borrowed $6.5 million in 2020 for the construction of a major reservoir in the alpine area to augment groundwater supplies which is projected to be completed this summer.

The new amount consists of $250,000 to finish the surface water reservoir, $4.5 million to build a new water line to connect the surface reservoir to the water system, $2.5 million for pressure zone four reservoir and the Bella Vista loop system, and $100,000 for upgrading two pressure reducing valves. 

The pressure zone will allow for additional firefighting water supply in the area and will be connected to other pressure zones. The Bella Vista loop system will allow for part of the water system to be cut off in the event of a leak so other areas of the system are not affected. 

The borrowing request will now be sent to Victoria for provincial approval before coming to residents and property owners for consideration and final council approval. SPMRM stated they are looking to take advantage of the fall borrowing period and current low interest rates from the Municipal Financing Authority.