Nanaimo Operations Centre phase one to go to Alternative Approval Process
Province gives statutory approval for borrowing bylaw
NEWS RELEASE - Distributed September 21, 2023 9:00 AM
Summary
The Province has given statutory approval to the City of Nanaimo for a borrowing bylaw for up to $48.5 million for the first phase of the Nanaimo Operations Centre project.
With this approval, the City will commence an Alternative Approval Process (AAP) to gain permission from residents to borrow the necessary funds. The process begins Wednesday, Sept. 27, and ends Friday, Nov. 3.
Nanaimo Operations Centre Phase One Borrowing Bylaw 2023 No. 7362, which received three readings from Council on June 19, will see the City borrow a sum not exceeding $48,500,000 repayable over a period of no more than 20 years.
For more information on the Alternative Approval Process visit the City website at www.nanaimo.ca/goto/aap and for more information on the project visit www.nanaimo.ca/goto/NOC.
Link to Strategic Plan: N/A
Key Points
- The Nanaimo Operations Centre Phase One Borrowing Bylaw 2023 No. 7362 is the first in this project consisting of four phases to replace and consolidate public works and parks operations onto one site.
- The City will commence an Alternative Approval Process beginning Wednesday, Sept. 27, until Friday, Nov. 3.
- If 10 per cent or more of eligible voters submit an Alternative Approval Process form in opposition, the borrowing bylaw will be brought back to Council to determine if Council would like to proceed with the matter and next steps.
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