$25M windfall for S. Okanagan

Nearly $25 million is flowing to local governments in the South Okanagan for emerging infrastructure needs.

The cash is coming from the $1billion Growing Communities Fund announced in February by the provincial government and is funded by the current year’s fiscal surplus.

The funding formula assigned each local government an award of $500,000, then added to it based on population and per-capital population growth between 2016 and 2021.

“This method considers the impacts of service and amenity demands on smaller and rural communities and the additional pressures experienced by fastergrowing communities,” explained the B.C. government in a press release.

The money will be in local governments’ hands by the end of March and each recipient will be required to report on its use of the funds in audited financial statements.

The windfall adds up to $2.6 million for the Town of Osoyoos.

“There are numerous projects within our five-year financial plan that are unfunded and require borrowing. This announcement will assist our financial position, which in effect will save property owners money,” said Osoyoos chief administrative officer Rod Risling in a press release.

“Over the coming months, administration will review the grant details and present options to council on the best ways to utilize the funds.”

Complete local funding amounts: Keremeos, $1.4M; Osoyoos, $2.6M; Oliver, $2.8M; Penticton, $7.2M; Summerland, $4.5M; Princeton, $1.9M; Regional District of Okanagan-Similkameen, $4.5 million.