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HomeNewsIsland & CoastCity of Nanaimo set to borrow $48.5 million for Operations project 

City of Nanaimo set to borrow $48.5 million for Operations project 

The City of Nanaimo has been given the green light by the province to begin borrowing $48.5 million for the first phase of the Nanaimo Operations Centre Project.  

According to the city, they will now start the Alternative Approval Process to gain permission from residents to borrow the funds to complete the first phase, 

Council approved three readings of the borrowing bylaw back in June, and it will not allow the city to borrow more than $48.5 million. The money is also scheduled to be repaid over a period of 20 years. 

If the city receives an opposition vote of 10 per cent or more the bylaw will be brought in front of council again to consider alternative avenues to proceed with the project. 

Director of Legislative Services Sheila Gurries says the AAP is a fair and democratic way for people to voice their concerns about capital projects. 

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“The Alternative Approval Process provides eligible electors with the opportunity to voice their opposition to the borrowing bylaw,” she says. “They can freely distribute and submit Elector Response forms and have them returned to city hall by Nov. 3. 

“Individuals are not required to vote in person or return the forms themselves.” 

The process begins Sept. 27 and ends Nov. 3. 

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