Salmon Arm residents have an opportunity to determine whether or not the city proceeds with borrowing $845,000 for the construction of a runway at Shuswap Regional Airport.
The City of Salmon Arm is proposing a bylaw authorizing the borrowing to fund phase 1 of Taxiway Charlie and related taxi-lane project at the airport.
A public notice from the city states construction of Taxiway Charlie, broken into phases, “will increase airport capacity by allowing the majority of landing aircraft in both directions to exit the runway, thereby reducing the total time an aircraft occupies the runway.”
The total cost of the project is estimated at $1,365,000. Last year, the city received $520,000 for the project from the British Columbia Air Access Program, leaving the city to borrow for the remainder.
Repayment of the borrowed amount is projected at $65,250 annually over 20 years at an estimated interest rate of four per cent.
Through an alternative approval process, residents have until 4 p.m. on June 24 to not approve the proposed bylaw authorizing the borrowing. If less than 10 per cent (1,503) of electors request that council not approve the borrowing bylaw, council may approve it.
More information about the project and the public consent process can be found on the city’s website at www.salmonarm.ca.