Princeton Town Briefs

Independent notes on town council — facts from the record, context labeled separately.

What happened

Princeton Council Approves $7 Million Loan and $500,000 Grant

Quick view

The Town of Princeton council approved a $7 million loan to upgrade the town's water and sanitary sewer systems. The loan will be used to cover the costs of several critical infrastructure projects. The council also approved a $500,000 grant from the Ministry of Forests, Lands, Natural Resource Operations and Rural Development to support the Princeton Industrial Park Expansion and Marketing Recovery Strategy. The grant will be used to fund marketing and promotional activities to attract businesses to the industrial park. Additionally, the council approved the BC Transit 2022/23 Annual Operating Agreement, which outlines the terms of the agreement between the town and BC Transit. The agreement includes a total cost of $238,282.00, with the municipal portion being $129,284.00. The council also approved the 2022 Tax Rates Bylaw, which sets the tax rates for the 2022 taxation year. The tax rates are based on the assessed value of properties in the town. The council also discussed the update to the 2021 Ecora Report, which will provide a new flood hazard assessment and mitigation plan for the town. The report will be used to identify areas of high risk and to develop a plan to mitigate the effects of flooding. The council also discussed the Tribute to Myrna Coates event, which will be held on May 13th, 2022, at the Princeton Legion Hall. The event is a tribute to Myrna Coates, a long-time resident of Princeton who passed away in 2021. The event will include a ceremony and a reception, and the council approved the request to attend the event.
FACT · Decisions / recommendations

What was decided (or proposed)

  • passed — 2022 Security Issuing Resolution: The council approved borrowing $7 million from the Municipal Finance Authority of British Columbia to upgrade the town's water and sanitary sewer systems. [5]
  • passed — Grant Funding Approval: The council approved a $500,000 grant from the Ministry of Forests, Lands, Natural Resource Operations and Rural Development to support the Princeton Industrial Park Expansion and Marketing Recovery Strategy. [8]
  • passed — BC Transit 2022/23 Annual Operating Agreement: The council approved the BC Transit 2022/23 Annual Operating Agreement, which outlines the terms of the agreement between the town and BC Transit. [12]
  • passed — 2022 Tax Rates Bylaw: The council approved the 2022 Tax Rates Bylaw, which sets the tax rates for the 2022 taxation year. [6][13][17][18]
FACT · Next

What comes next

  • The council will continue to work on updating the 2021 Ecora Report, which will provide a new flood hazard assessment and mitigation plan for the town.
FACT · Delegations

Who spoke

  • BC Transit — approval of the 2022/23 Annual Operating Agreement
  • Ministry of Forests, Lands, Natural Resource Operations and Rural Development — approval of the $500,000 grant to support the Princeton Industrial Park Expansion and Marketing Recovery Strategy
CONTEXT · Who may be affected

Stakes & interests

Flood Mitigation

The update to the 2021 Ecora Report will provide a new flood hazard assessment and mitigation plan for the town, which will help to identify areas of high risk and develop a plan to mitigate the effects of flooding. This is an important issue for the town, as flooding has been a major concern in recent years.

FACT · By item

Item notes

Every business item from the published agenda is listed here. Full agenda.

6.1 BC Transit 2022/23 Annual Operating Agreement

The agreement outlines the terms of the agreement between the town and BC Transit. [12]

“The total cost to operate the service is $238,282.00, with the municipal portion being $129,284.00. [12]”

6.2 2022 Security Issuing Resolution

The resolution approves borrowing $7 million from the Municipal Finance Authority of British Columbia to upgrade the town's water and sanitary sewer systems. [5]

“The loan will be used to cover the costs of several critical infrastructure projects. [5]”

6.3 Grant Funding Approval

The council approved a $500,000 grant from the Ministry of Forests, Lands, Natural Resource Operations and Rural Development to support the Princeton Industrial Park Expansion and Marketing Recovery Strategy. [8]

“The grant will be used to fund marketing and promotional activities to attract businesses to the industrial park. [8]”

6.4 Update to the 2021 Ecora Report

Update to the 2021 Ecora Report ($100,000.00) — Town council would enter into a contribution agreement with the Province of B.C. EMBC for a grant in the amount of $100,000.00; AND THAT Council authorize staff to seek out an outs [7][9]

“THAT council enter into a contribution agreement with the Province of B.C. EMBC for a grant in the amount of $100,000.00; AND THAT Council authorize staff to seek out an outside source to complete an update to the 2021 Ecora Flood Assessment and Mitigation Report; AND THAT Counci [7][9]”

8.1 Kim and Todd Davidson

Kim and Todd Davidson [11]

9.1 Tribute to Myrna Coates

Tribute to Myrna Coates — Town council would attend the Tribute to Myrna Coates on Friday, May 13th, 2022 at the Princeton Legion Hall, as available. Tribute to Myrna Coates Invitation [10][16]

“THAT Council attend the Tribute to Myrna Coates on Friday, May 13th, 2022 at the Princeton Legion Hall, as available. Tribute to Myrna Coates Invitation [10][16]”

10.1 2022 Tax Rates Bylaw

2022 Tax Rates Bylaw — Town council would give first, second and third readings to the Tax Rates Bylaw No. 1024, 2022. 2022 Tax Rate Report 2022 Tax Rates Bylaw Tax on an Average House schedule704_2021 ( [6][13][17][18]

“THAT Council give first, second and third readings to the Tax Rates Bylaw No. 1024, 2022. 2022 Tax Rate Report 2022 Tax Rates Bylaw Tax on an Average House schedule704_2021 (1) [6][13][17][18]”

Open questions

  • What are the specific infrastructure projects that the $7 million loan will be used for?

Sources

  1. CivicWeb meeting
  2. Agenda document
  3. YouTube recording
  4. Regular Agenda - 19 Apr 2022 — Agenda Package
  5. 2021 Loan Authorization Report
  6. 2022 Tax Rate Report
  7. ATEMB2022163 Contribution Agreement - Fully Signed_Redacted
  8. Economic Development Grant Funding Report (003)
  9. Ecora Report Update - April 2022 Report
  10. Invitation
  11. Kim and Todd Davidson
  12. Report-202223 transit agreement
  13. Tax on an Average House
  14. Town of Princeton_Grant Letter_FR21220004_COMPLETE_Redacted
  15. Transit Agreement 2023 AOA - Princeton
  16. Tribute to Myrna Coates
  17. schedule704_2021 (1)
  18. 2022 Tax Rates Bylaw
  19. Regular Agenda - 04 Apr 2022 - Minutes - Pdf

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Brief 652 · 2022-04-19