A major overhaul to the regional district’s 20-year-old building in Trail could be covered sooner than anticipated.
Debt owing to the $3.48-million renovation, which was completed last year, could be expedited if funds earmarked for paying off $1 million to airport land purchased from Teck are redirected after the final $190,000 installment is settled this year.
The board has already given preliminary approval to apply this annual payment to the heating, ventilating and air conditioning (HVAC) upgrade for 2013 and 2014, but will make a final call when the regional district’s budget is completed this month.
“Rather than just taking that money and reducing the budget, we’re going to actually use it,” said Trail councillor Robert Cacchioni, who sits on the regional board. “The land will be available for development, the only problem is it’s not serviced.”
Starting last year, all regional district residents felt the weight of the HVAC project with an additional $18 in taxes tacked on to a $200,000 home. Though the same amount will hit the pocket book this year, the $12 expected for three years thereafter could be cut by one year.