What would a “no” vote mean?
• How much would the facility cost to build? If approved, the Community Curling and Multi-Use Facility would cost $3.9 million to build. The District has been awarded a Building Communities grant, with federal and provincial funding that would pay for two-thirds of the cost of the construction. The remaining one-third or $1.3 million could be borrowed by the District of Peachland through the Municipal Finance Authority. The construction project must be completed by March 31, 2011 or the grant is forfeited. • How much would the facility cost tax payers? The cost of borrowing the $1.3 million for construction is approximately $102,993 per year for 25 years. This cost would be offset by the revenue generated from a lease with the Peachland Curling Club for seven months of the year and from the revenue the District would generate from facility rentals the other five months of the year. The cost to borrow $1.3 million is approximately $8.50 per $100,000 of assessed value or $37.09 for the a
