EDITOR”S NOTE: This is part 2 of a question and answer (Q and A) interview with Colin Plant, chair of the CRD on the region’s most costly capital project in history. It’s set for completion at the end of the year.
Q1. Accepting that your estimate of $775 million is accurate and covers the complete capital cost of the project what is the balance left for the Taxpayers of the CRD after the application of the Federal and Provincial grants?
The Wastewater Treatment Project’s control budget is $775 million and the federal and provincial governments are assisting the Capital Regional District in funding the project’s identified scope. The Project remains on schedule to meet the regulatory deadline of the end of this year, and remains within the budget.
British Columbia will provide $248 million toward the three components of the project, while the Government of Canada is contributing:
· $120 million through the Building Canada Fund – Major Infrastructure Component toward the McLoughlin Point Wastewater Treatment Plant
· $50 million through the Green Infrastructure Fund toward the conveyance system project; and
· up to $41 million toward the Residuals Treatment Facility through the P3 Canada Fund.
The Capital Regional District is responsible for the balance of costs, currently estimated at $316 million. Six More Questions and Answers, CLICK >>