The $28.3 million project will be shared based on ownership in the joint venture, Parksville 74% and RDN 26%. Costs will be spread out over the next 25 years with less reliance on current user fees.
To provide for the anticipated annual operating and capital costs as well as the future $5.6 million debt retirement costs, annual water rate increases for water services for the City of Parksville will increase between 2.25% to 2.5% for the years 2016 through 2014; about $10 per year for an average household.
To estimate individual increases, residents should add the water charges shown on their April and October 2015 utility bills and increase the sum by 2.5%.
- 75% of the intake and transmission mains will be paid for by development costs
- 50% of the water treatment plant will be paid for by development costs.