The City of Armstrong will fund phase one of its new Huculak Park through short-term borrowing.
The city budgeted $80,000 for the phase, which will begin later this summer.
“We’ll be putting in trails and berms. I’s time to get things on the go,” said Coun. Shirley Fowler, chairperson of the city’s finance committee.
Short-term borrowing is governed by the Community Charter using the Municipal Finance Authority as the lender.
The program limits municipalities to borrow about $250,000, does not require elector approval and has a five-year amortization limit.
The city created a bylaw for the borrowing and gave unanimous approval to three readings.
The bylaw is now sent to Victoria for approval which could take up to six weeks.
If approved, the bylaw is adopted to secure funding and that would take about a week.
“The project should not proceed until ministry approval is received, which should be no later than the end of June,” said Fowler.
The city has budgeted no more than $16,880 over the next five years to repay the loan.
Meanwhile,plans are in the works to pay tribute in the park to the Chinese contribution to the city’s history.
The city and Armstrong Spallumcheen Museum and Art Gallery will submit applications for grant funding which will go towards Chinese cultural recognition in Huculak Park.
“We may put in a gazebo or a Chinese gate in a certain park of the park,” said Mayor Chris Pieper.
“We have talked about recognizing the significant contributions of the Chinese in our community.”
