Town council in Sylvan Lake has fast-tracked additional funding for the construction of a badly-needed new water reservoir.
The Town’s current water system is capable of supplying a population of 18,000, according to a report presented to council on Monday. The 2016 federal census showed Sylvan Lake’s population to be 14,816.
Plans for a new 8,500 square-foot water reservoir began in 2015 to ensure potable drinking water for a population of 30,000 town residents.
Originally, $6.5 million was to be borrowed this year followed by $4.5 million in 2022 to build the reservoir. Instead, council approved an additional $3.5 million for this year to capitalize on more favourable interest rates and construction costs.
The Town of Sylvan Lake is hopeful that provincial grant funding will cover 30 per cent (about $3 million) of the $10 million project. Around half of the remaining $7 million would be collected through levies to developers and the rest through utility rate increases for taxpayers.
The new reservoir will be located on a quarter-section in Sandbar Estates in Red Deer County, northeast of Highway 11A and Highway 20. Lengthy negotiations for the Town to purchase the land from the County were completed in November 2017.
“A new reservoir in the proposed location will reduce the service area for the existing reservoir and allow the Town to be serviced more efficiently,” read Monday’s council item.
Tenders for the project are expected to go out in March with construction to begin in May and take about 18 months to complete.
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