A second rail trail initiative for the North Okanagan has moved a step closer.
Regional District of North Okanagan directors voted unanimously Wednesday to approve and adopt a temporary borrowing bylaw for its share to purchase the abandoned CP Rail corridor between Spallumcheen and Sicamous.
The RDNO portion of the $6.5 million purchase fee, shared between province and Columbia Shuswap Regional District, is $2.3 million.
鈥淭he closing date for the purchase is December 15, and it鈥檚 on this date we are required to pay our share of the money,鈥� said RDNO board chairperson Bob Fleming.
The Splatsin Band also owns parts of the line, and has been working collaboratively with the regional districts.
The temporary borrowing bylaw allows the regional district to borrow funds from the Municipal Finance Authority in advance of receiving proceeds from the long-term debt issue which is anticipated in the spring.
Temporary borrowing must be repaid once the proceeds from the long-term debt have been received.
Fleming, meanwhile, announced that he鈥檒l meet with the mayors of Vernon, Coldstream, Lake Country and 麻豆精选 on Nov. 24 to discuss issues around the Okanagan Rail Trail from Coldstream to 麻豆精选.
鈥淭hese include all areas of common interest including governance, common standards for maintenance, commercial development around the trail and any other issues the partners feel may be important,鈥� said Fleming. 鈥淚t鈥檚 my hope we at least create a format to allow for open communications amongst the partners.鈥�
The meeting is slated to be held at a Vernon hotel.
roger@vernonmorningstar.com
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