The RDEK says six million dollars from the federal government will likely lessen the debt load for the Windermere Water Upgrade project.
The Regional District learned Friday they would be receiving millions of dollars for the project from annual gas tax funding.
Board Vice Chair Wendy Booth says staff haven’t discussed how to put the money to use.
“The announcement was just made on Friday and I really haven’t had a chance to talk with the financial department at the Regional District of what the best breakdown is,” Booth says. “But we will certainly be having those conversations.”
Booth says she will be working with board directors and staff to determine how to lessen the burden on tax payers.
“Its a balance between paying down the debt before we even borrow it because the deal hasn’t quite been finished yet, but also putting some money toward the infrastructure that needs to be upgraded on the existing pipes in the ground” Booth says.
Windermere residents voted in the Fall to allow the RDEK to borrow seven million dollars to expand the service.
The community has been under a water quality advisory since 2006.
– RDEK Vice Chair, Wendy Booth