Plans to renovate Nakusp’s main street will take a big chunk out of the municipality’s reserves - but the village’s capital spending won’t affect the property tax bill this year.
Councillors were introduced to the administration’s proposed $1.73 million capital budget last week.
The bulk of the spending this year — $1 million — will be on the downtown revitalization project. But the money to pay for it will come from drawing down on the village’s Gas Tax reserve, NACFOR Legacy reserve, as well as other grants and funding sources.
It’s the single biggest project on the village’s plate this year.
The proposed budget has some modest spending projects, and work carried over from last year.
Under Recreation and Parks:$60,000 to replace Rotary playground equipment that is no longer CSA approved
$30,000 for replacing the arbour in the waterfront’s Spicer Garden
Improvements to the arena, a fence around the Japanese gardens, and bear-proof garbage cans are also on the list.
The total cost of all the parks and rec spending is $117,000, most covered by capital reserves and grants.
Under Water projects, the biggest spending will be $251,000 for galvanized steel water main replacements; it’s being paid for by frugal spending on the project last year, which left a massive reserve of cash the province has said the village can use to extend the project.
The much-needed replacement of the asbestos-cement pipes is not going to start until next year; staff estimate the project may cost almost $1.3 million a year for four years. However, without funding, the project may have to wait even longer to get started.
The administration plans about $72,000 from the Hot Springs’ reserves for upgrades to the facility’s front counter, change room, a new coffee area, and replacing the campground fence. It also plans improvements to the plumbing and electrical infrastructure. The hot springs made good money last year, and is projected to do well again this, making administrators confident the reserve can take the hit.
Under Equipment Replacement, the administration plans to purchase a new sander and new riding lawn mower this year, for a total of about $57,000. The money will come from the equipment reserve fund.
There are some small items too: replacing the village office’s antiquated phone system will cost about $8,500; and the fire department needs to buy a new training mannequin, for $2,400.
But the end result of all this spending won’t increase the property tax bill this year; it’s been a long-standing principle that any budget the administration presents has to have no impact on taxes, but rather be paid for through grants, reserves and other sources.
Council will review the presentation, and take a final vote on the spending in April.