INNISFAIL – Town council has unanimously approved second and third readings of a new borrowing bylaw to finance the initial stages of the $15 million Innisfail Aquatic Centre Modernization Project.
And the approval came within a day or two of new reported problems with the 38-year-old facility.
Construction on the modernization project is scheduled to begin July 7.
“We are constantly reminded the aquatic centre needs to be upgraded. There was another repair issue this week, and the pool had to be closed for a few hours for repair,” Mayor Jean Barclay said last week.
“We need to get this project moving forward, and that (bylaw approval) was the final step. Hopefully we will be all ready for (construction) at the beginning of July.”
At council’s regular meeting on June 9, Erica Vickers, director of corporate services for the Town of Innisfail, reminded town council the proposed borrowing bylaw needed to go through a thorough process before being brought to council for approval.
Following first reading of the bylaw, the bylaw was advertised in the Albertan on May 6 and 13 as required under the Municipal Government Act.
And then came a 15-day petition period, which is now complete.
Council was told no valid petitions were received.
With those parts completed, the next step was to proceed with second and third readings on June 9.
With all three readings now approved the borrowing bylaw will become valid 30 days after third reading on July 9.
At that time, the Town will be able to submit its borrowing application, said Vickers.
She told council the Aquatic Centre Modernization Project has an estimated total cost of $14,908,465, and to manage cash flow requirements during construction the town will utilize a revolving line of credit with an interest rate of prime minus 0.25 per cent.
The nine-month construction project, which begins on July 7 and constructed by Chandos Construction and Group2 Architecture, will also be funded through the town’s Facility Reserve (now at $2.8 million) and a provincial Local Government Fiscal Framework grant.
The town is currently waiting for approval, which could take another year, from a federal Green and Inclusive Community Building grant application, that could bring in close to $6 million to offset the project’s total cost.
As for the project’s impact on staff, three full-time staff members will work in other areas of town operations while half of the 15 part-time employees will be repurposed to either full-time summer parks positions or other opportunities.
