Residents only have a few days left to voice their opinions on Sparwood’s proposed borrowing of $5-million to upgrade and renovate Fire Hall #2.
Sparwood officials said the District is looking to borrow $5-million to finance the renovation and expansion of Fire Hall #2, with the loan to be paid back over 30 years.
District officials estimate the borrowing will result in a tax increase for the average residential property of about $110 per year.
“As for overall debt, as of December 31, 2021, the District will only be paying for the Michel Creek Road water line extension, which has offsetting revenue from a parcel tax that was implemented when constructed,” said Mayor David Wilks. “The annual debt servicing cost of the Fire Hall #2 project would amount to approximately 10% of the District’s total borrowing capacity, leaving significant room for other planned or emergency projects.”
Council will borrow the money to undertake the renovation unless at least 10% of the electors in Sparwood sign an Elector Response Form opposing the borrowing. According to Sparwood, 276 eligible electors would need to submit a form by Monday for the borrowing to be voted down.
Signed Electoral Response Forms must be received by the District by 4 p.m. on Monday, September 13th. Forms can be submitted by email to [email protected] or by fax to 250-425-7277 or dropped off at the municipal office.
According to Mayor Wilks, the building was first constructed in 1982 as a garage space to support firefighters while the Sparwood Heights development was added to the community.
“Since that time, only modest improvements and capital investments have been made to the facility,” said Wilks. “Over the years, these small improvements have totalled less than $180,000 in capital expenditures, and at no time in the last decade was a one-time capital investment made in the facility totalling $200,000.”
More: Alternate Approval Process for Fire Hall #2 (District of Sparwood)
