Posted in Government, south sewer project, UBID

Questions From Landowner Unanswered by Union Bay Improvement District

NOTE:  THE FOLLOWING POST IS FROM A CONCERNED UNION BAY TAXPAYER.

The hand-out at the Sept. 12th meeting did not provide any specifics on costs but moved beyond my questions with regard to the potential relationship with the developer.

WATER ISSUES BACKGROUND

August 2015 Landowners Update- Special Edition #2

Options (pge#4)

1) Modest Parcel Tax increases with long-term borrowing. ($330 p.a to $345 in 2023)

2) Fund by Parcel Taxes only ($330 p.a. to $431 in 2023)

3) Developer provides funding (?) (Funded by partnership with UBID)

_The “Plan” is on the UBID website under “Water Quality Issues” ie this is where the Parcel Taxes estimates came from

Presentation Sept. 12th 2015 at special UBID meeting

Äny financial plan will be built on a combination……….of borrowing over a reasonable repayment period………

COMMENT: Therefore “Fund by Parcel Taxes only” has been ruled out?

MY TAKE ON THE “PLAN” (Long term Borrowing):

Total cost is $2,974,000

Total Parcels serviced is 2014=700 vs. 2023= 732 (actual for 2015 is about 650-the Plan was done in 2012)
AND
Loan balance at 2023 about $1,600,000?
Developer contributions and/ or Grants is?
Over-all Financial Plan for up to 1,045 parcels including Water, Firehall/Admin Bldg. and trucks is?

Taxpayers’ additional problem with CVRD: Costs associated with the South Sewer Project is $57million plus or minus 30%

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