A concept design of the proposed public works building in Coldstream that requires public assent to borrow funds (photo courtesy of the District of Coldstream website)
Assent Vote
Coldstream residents to vote on borrowing for public works project
Aug 24, 2022 | 6:00 PM
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Voters in the District of Coldstream will have to consider borrowing money for a new project when they cast their votes in October.
Residents will be asked if they are in favour of borrowing $8.5 million to build a new public works building, build new storage facilities, and renovate the old firehall.
The district estimated the project would cost a total of $10.92-million to complete, and needs to borrow the funds as there is just $2.42-million in existing reserves available for the project.
The money would be borrowed over a 30-year term, with the district receiving approximately $526,800 annually.
