Alternate Approval Process Underway
Prince George, B.C. – The City of Prince George has officially started the alternate approval process related to borrowing dollars for four projects.
The projects require elector approval because of the length of term of the loans.
The projects and the amounts are as follows:
- Mobile equipment $4.223 million – term is 10 years, estimated to add $9.34 annually to the average residential tax bill
- Public Works Yard Development $1.45 million – term is 20 years, estimated to add $2.09 annually to the average residential tax bill
- Nechako Riverside Park $630 thousand- term is 20 years, estimated to add $0.91 annually to the average residential tax bill
- Hart Industrial Storm Drainage $1.47 million – term is 20 years, estimated to add $2.12 annually to the average residential tax bill
Under the Alternate Approval Process, each item would require the signatures of 5,417 electors, in order to prevent the borrowing for a specific project until the City holds a referendum.
The Elector Response forms are available at City Hall during regular business hours (8:30 to 5 pm Monday to Friday, or online by clicking on the links listed below for each of the specific projects:
The deadline for submitting the Alternate Approval Forms to the City is 5 pm on Wednesday July 12th. The results of the process will be presented to Council on July 24th when Council will make decisions on the various projects based on the results of the alternate approval process.