Town of Steinbach seeks $ 7.5 million borrow for Southeast Event Center

0

The City of Steinbach plans to borrow $ 7.5M for the South East Event Center project.

Councilor Susan Penner moved to give the first reading of a local improvement plan and by-law that would allow the city to borrow the last of the money needed for this project.

“I think it’s pretty amazing that we have a $ 42 million facility and only need to borrow $ 7.5 million to get there. It’s really amazing. Obviously, it’s due to private donations, funding from other levels of government as well as the savings the city has made and we are really reaping the rewards for all the hard work that has been done over the past 10+ years. “

Of the overall project price of $ 42 million, $ 15 million comes from the private sector, $ 17.4 million from other levels of government, and the City of Steinbach is responsible for $ 10 million. The city has already set aside $ 2.5M of its $ 10M portion, leaving $ 7.5M in arrears.

The City of Steinbach won the architectural and engineering contract for the South East Event Center …

Councilor Damian Penner seconded the motion, adding that it is a fantastic example of a public-private partnership.

Borrowing only 7.5 million dollars over just 5 years is a phenomenal testament to the planning that has been done in this project and allows the city to be in a position where in 5 years it will be paid off and there is will have flexibility to move forward with other projects as well, so I’m very happy to support this motion. ”

Much like the architecture and design contract the city recently awarded to Verne Reimer Architecture Inc., Mayor Earl Funk says it is a big step in the right direction.

“This is a huge project for our city and we are reaping the rewards of a decade of working on it. When I take an inventory of what I talk about the most when people come to see me at the store or passing by, there are two of the things we talk about, there is COVID and that, and above all I want to talk about it because that’s exciting.”

The council voted unanimously to give the first reading of the local improvement plan and by-law.

A public hearing will have to take place before city council is able to give this local improvement plan second and third reading and borrow the money. The plan will also need to be approved by the Manitoba Municipal Board.

The construction of a new event center is now a reality for Steinbach. This promise was made on Monday afternoon b …

Share.

About Author

Comments are closed.