Vernon council legacy fund debate to be continued
How to spend nearly $13 million from the Fortis B.C. Legacy Reserve Fund, remains undecided following a three hour special council meeting Tuesday, April 20.
Two other issues chewed up half of the meeting; what to do with the RV sani-station, and closing two blocks of 30th Avenue from mid-May to Labour Day, so restaurants could use the space.
Vernon Mayor Victor Cumming clarified at the meeting that the fund was not a gift from Fortis B.C., but revenue from a business arrangement between Fortis and the city.
“The Fortis B.C. Legacy Fund includes amounts accumulated over time representing the annual excess lease revenue paid to the city over the debt servicing costs, plus the one-time payment made in November 2019 of $12,239,286,” director of Financial Services Debra Law reported to council.











